Secret Lukoil panel meets, ends in just 10 minutes

A closed-door parliamentary committee focused on Lukoil met briefly this morning in Bulgaria’s National Assembly, according to statements made by Vazrazhdane party leader Kostadin Kostadinov. The meeting, which reportedly lasted only 10 minutes, was called amid heightened tensions after Swiss-based Gunvor withdrew its proposal to purchase Lukoil’s foreign assets. The withdrawal followed the US Treasury’s decision to label the Russian energy company as subject to Russian influence, effectively blocking the sale.

During the session, lawmakers rapidly passed a bill granting broader authority to Lukoil’s special manager in Bulgaria, enabling potential sales of company assets. Kostadinov sharply criticized the proceedings, calling the developments without precedent and warning of significant risks if Bulgarian leaders move forward with asset seizures. He suggested that retaliatory actions from Russia, such as the confiscation of Bulgarian property, could follow, and argued that officials attempting to avoid a fuel crisis may not fully grasp the likely consequences.