In a social media post on Tuesday evening, Ivan stressed that he will not request an extension of the November 21 deadline set by the American authorities for the sanctions on Lukoil to come into effect.
"My colleagues in the Ministry of Energy continue to work, together with all relevant authorities, on creating legislation that will ensure, on the one hand, full compliance with the sanctions regime established by the United States, and on the other hand, the continuity of Petrotel Ploiesti's refining activities, as well as the marketing of petroleum products, without jeopardizing the supply of the national fuel market," the energy minister said.
The Petrotel refinery in the southern city of Ploiesti was founded in 1904 and was acquired by Lukoil in 1998. Lukoil also has a network of 320 filling stations in Romania.
After the U.S. Treasury Department last month imposed sanctions on Lukoil, the Russian oil giant said on October 30 that it had agreed to sell Lukoil International GmbH to Swiss energy commodities trading company Gunvor, without disclosing the financial terms of the deal. However, Gunvor said last week that it was withdrawing its bid to buy Lukoil's foreign assets, after the U.S. Treasury stated that Gunvor would not receive a licence to operate the assets.
(SeeNews, November 12, 2025)