A special administrator of "Lukoil" could have been appointed on October 22, since there is currently legislation that allows this. He will manage the management of the company's assets in order to guarantee the security of supplies. The decisions of the future administrator, under the newly adopted legislation, are not subject to judicial control, and this may become the subject of an arbitration claim by Russia. This was said by the energy expert from the Center for the Study of Democracy in the studio of "Hello, Bulgaria" Martin Vladimirov.
According to him, the selection of a special administrator should be carried out through an open competition and candidates who present their clear vision. And the entire selection can be implemented within 48 hours. "The expansion of the powers of the person holding this position is necessary, but the US Treasury Department must first grant a reprieve from sanctions. The rush should not be for superpowers, but to obtain a general license for asset management. I have no explanation why the appointment of a special manager is being delayed. I assume that a six-month reprieve will be requested", Vladimirov added.
We recall that on November 7, following the opinion of the US Treasury Department that the Gunvor Group company is a “puppet of Russia”, the parliamentarians adopted at first and second reading to expand the powers of the so-called special manager, who will take over the management of the Burgas refinery. Thus, all control will be in the hands of the state and all decisions will be made after the approval of the Council of Ministers. They will not be subject to suspension and judicial control.
According to the energy expert, after the sale of the assets of "Lukoil" they can be nationalized, but then the state is obliged to pay it compensation. "In its current form, our law contradicts the bilateral agreements with Russia, and this can be used as a tool for political influence. It must be explicitly mentioned that compensation will be paid," Vladimirov explained.
For his part, Dimitar Hadzhidimitrov from the Association of Bulgarian Traders, Producers, Importers and Transporters of Fuels believes that an exception will be made for Bulgaria and the request for a derogation, i.e. a postponement of the sanctions, will be accepted. "The question is whether after the aggressive policy that we are pursuing against "Lukoil", the company will not respond in the same way. For example, what if Russia decides to advise it to block the refinery's operation? There must be talks so that there is continuity. We have adopted a rather aggressive law that threatens "Lukoil". There may be sabotage," Hadzhidimitrov admitted.
Regarding the information that Ivo Petrov will take the position of special manager, Hadzhidimitrov specified that he is in Italy and no one has called him about taking the position. "If we want to use "Lukoil"'s fuel reserves, they must be paid for. About half of them are its. If necessary, reserves can be brought from abroad - by trains from Greece and Romania - within 48 hours. From Turkey and Egypt it is also possible - with tankers, he added.
On October 30, it became clear that the subsidiary of “Lukoil“, which manages the group's international assets, received an offer from the Swiss-Dutch energy trader Gunvor Group for its acquisition, and accepted it.
It all started when the US imposed sanctions on Russian oil giants “Rosneft“ and “Lukoil“ - the first restrictions against Moscow since Donald Trump returned to the White House. The measure aims to limit Russian oil revenues that finance the war against Ukraine. Similar sanctions have also been imposed by the UK, while the European Union is considering expanding restrictions against Russian energy companies. On November 21, current transactions with “Lukoil“ will be terminated.