16:19 - 26.02.2026

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February 26, Fineko/abc.az. Swiss company Litasco, which manages LUKOIL's foreign assets, has launched an investment dispute with Bulgaria over the introduction of external management at the LUKOIL Neftochim Burgas refinery and a network of gas stations.

ABC.AZ reports that the company considers the actions of the authorities to be illegal expropriation without compensation and a violation of international agreements on investment protection. If it is not possible to resolve the conflict peacefully, Litasco intends to apply to the International Center for Settlement of Investment Disputes (ICSID).

The external management of LUKOIL's Bulgarian assets was introduced in 2025 amid sanctions and long-running disagreements with the authorities, who had previously deprived the company of access to Russian oil, export opportunities and control over key infrastructure.