Lukoil selloff shakes Balkan power play
Former Economy Minister Daniela Vezieva called on Bulgaria to request an extension of the deadline beyond November 21, as Lukoil prepares to divest its international holdings while the government drafts the 2026 budget. She noted that Germany had already secured a postponement and warned against hasty ownership changes at the energy company, which has an economic impact of 50 to 90 percent across the Balkans.
Vezieva told Bulgaria ON AIR that operational management should continue without ownership restructuring to prevent confusion over one of the region’s most valuable enterprises. She said Economy Minister Zhecho Stankov confirmed temporary reserves exist, though experts warn against potential price disruptions. Greece cannot supply sufficient replacement quantities to maintain production continuity across affected industries.
The former minister argued a two-month delay would allow proper financial analysis before determining whether to sell Lukoil operations. She criticized the upcoming budget for raising social security costs that reduce labor competitiveness, pushing employment expenses toward 10 percent of GDP.
