Lukoil to sell all assets in Moldova due to U.S. sanctions — minister

Russia’s oil major Lukoil will be forced to sell all of its assets in Moldova as a result of U.S. sanctions, Moldova’s Energy Minister Dorin Jungietu said in an interview with Radio Free Europe/Radio Liberty.

“They effectively have no choice. Otherwise, transactions will be blocked,” Jungietu said when asked whether the company could refuse to sell its Moldovan assets.

He said the Moldovan government was not interested in purchasing the network of petrol stations operated by Lukoil Moldova. However, the authorities plan to expropriate the company’s fuel supply complex at Chisinau airport, without finalising buyout negotiations.

According to Jungietu, Lukoil’s management is not obstructing the transfer of assets. “There has been no clear resistance or deliberate delay so far. The company is cooperating to bring the process to completion,” he said.

Earlier, the U.S. Treasury Department added Lukoil, Rosneft and 34 of their subsidiaries to a new sanctions package.

Moldovan government data show that Lukoil owns about 110 of the country’s 570 operating petrol stations. Lukoil Moldova is also an importer and wholesale supplier of petroleum products.