Moldova not to be affected by sanctions on Russian oil companies, speaker says

The Republic of Moldova will not face fuel supply issues even amid international sanctions imposed on major Russian companies. This assurance comes from Speaker Igor Grosu, who stated that authorities have taken measures to prevent any impact on the energy market.


“There have been discussions in the public sphere regarding sanctions on the company Lukoil. From the information we have, both from the Energy Minister and discussions with my colleagues, the situation is under control. There are no impediments in ensuring the supply of fuel to state institutions and the economy,” stated Igor Grosu.


According to him, the oil company was notified back in the summer about the requirements imposed by authorities.


“They were given a deadline for compliance, but so far they have not fully complied. Nonetheless, authorities have decided to extend the deadline to avoid market disruptions,” mentioned the official.


Igor Grosu emphasized that Moldova has sufficient fuel reserves and the potential sanctions, which will come into effect on November 21, will not have immediate effects on supply.


“Alternative solutions have been identified since the summer. The Ministry of Energy and regulatory authorities have been in constant contact with international partners to ensure the country's energy security,” concluded the Parliament Speaker.


The National Energy Regulatory Agency (ANRE) announced that it is analyzing the effects of sanctions imposed by the US on two Russian oil companies, as well as their potential impact on the oil product market in Moldova.

In this context, ANRE leadership has invited representatives of Lukoil-Moldova to clarify aspects regarding the company's current organizational situation and the actions to be taken in the new international context.

The US Department of Treasury announced on Wednesday sanctions against major Russian oil companies Lukoil and Rosneft, to curtail Moscow’s ability to fund its war effort in Ukraine.