CIVIL Media once again urges Lukoil Macedonia and the Ministry of Foreign Affairs and Foreign Trade to clarify — in the public interest — whether they are aware that Lukoil, a company with a major presence on the North Macedonia’s market, has been placed on the sanctions blacklist.
CIVIL has also expanded its outreach, submitting formal inquiries to the National Bank, the Government of North Macedonia, and the Ministry of Energy to assess the potential implications of these sanctions on the country’s financial system, energy sector, and overall economy. To date, none of the institutions have provided a response.
By Dragan Mishev
In cooperation with the CIVIL Hybrid Threats Monitoring Team (CHTM)
After the US President Donald Trump apparently realized that his talks with Vladimir Putin “lead nowhere,” the United States has announced a new wave of sanctions targeting Russia’s two largest oil companies — Rosneft and Lukoil — in an effort to pressure Moscow into negotiating a peace deal in Ukraine.
Rosneft and Lukoil form the backbone of Russia’s economy. Together, they account for nearly half of the country’s crude oil exports — about 3.1 million barrels per day, according to Russian estimates.
“The Americans have imposed sanctions not only on Rosneft and Lukoil, but also on all their subsidiaries in which these companies hold more than a 50% stake,” said economist Oleh Pendzin, head of the Ukrainian Economic Discussion Club.
“This directly affects their European subsidiaries and those operating in third countries. Their ability to function in these markets is now severely limited,” he added.
What concerns citizens of North Macedonia most — as CIVIL Media has previously reported — is how the U.S. sanctions on Lukoil might impact its operations in the country and what implications this could have on the financial and energy sectors. Although Lukoil Macedonia does not appear on the U.S. Treasury’s list of sanctioned subsidiaries, questions remain.
This is not the first threat to the Russian oil giants’ presence in the region. Lukoil owns the Lukoil Neftochim refinery in Bulgaria, while Lukoil Macedonia DOO, which operates a network of fuel stations across North Macedonia, is owned by Litasco, the company’s Swiss-based trading arm.
In September, Germany and France launched an initiative to include Lukoil in a new round of EU sanctions over the Kremlin’s war in Ukraine — a move aimed at increasing pressure on Moscow after it blocked peace efforts by U.S. President Donald Trump.
Diplomatic sources revealed that Berlin and Paris proposed adding both Lukoil and Litasco to the EU’s blacklist. They also called for sanctions on refineries from third countries involved in exporting Russian oil to the EU, as well as on trading firms handling Russian crude.
Recognizing the importance of this issue for North Macedonia’s socio-economic landscape, CIVIL Media reached out — multiple times — via email to Lukoil Macedonia and the Ministry of Foreign Affairs and Foreign Trade to ask about the potential consequences of these initiatives on the company’s local operations and the broader economy.
Nearly two months later — now compounded by new U.S. sanctions — neither Lukoil Macedonia nor the Ministry has provided a response.
Across the border, however, the issue is being handled more openly. Bulgarian Prime Minister Rosen Zhelyazkov announced, ahead of the EU leaders’ summit in Brussels, that his government has until November 21 to decide the future of the Lukoil Neftochim refinery in Burgas. The Bulgarian National Bank (BNB) also issued a statement, confirming it is assessing the potential effects of U.S. sanctions on the domestic financial system. So far, it has identified no credit risks that could threaten financial stability.
CIVIL Media once again calls on Lukoil Macedonia and the Ministry of Foreign Affairs and Foreign Trade to respond — in the public interest and for the timely information of citizens:
Are they aware of the German-French initiative to blacklist Lukoil and its trading subsidiary Litasco as part of the upcoming 19th sanctions package against Moscow? What consequences could the potential adoption of this initiative have for Lukoil’s operations in North Macedonia and, consequently, for the country’s economy — especially now, in light of Washington’s new sanctions on Rosneft and Lukoil?
CIVIL has also expanded its outreach, sending inquiries to the National Bank, the Government of North Macedonia, and the Ministry of Energy regarding the possible implications of the sanctions on the country’s financial system, energy sector, and overall economy.
As of now, no institution has responded. Their answers, if received, will be published.