New decree allows Romania to take over sanctioned Lukoil's local assets

Romania’s coalition government approved a decree on Tuesday enabling it to take control of the local assets of companies under international sanctions, such as Russia’s Lukoil.

Lukoil has 320 petrol stations in Romania, operates the country’s third-largest refinery and holds offshore exploration rights in a section of the Black Sea. The refinery, which accounts for about a quarter of Romania’s fuel supply, has been shut for maintenance for weeks.