Europe

Home page

Europe

Bulgarian President Rumen Radev vetoes law linking Lukoil asset sales to security agency approval

05 November 2025 17:20 (UTC +04:00)

Bulgarian President Rumen Radev has vetoed a law amendment that would make the sale of Lukoil's assets in Bulgaria conditional on the positive opinion of the State National Security Agency (SANS), APA reports, citing Bulgarian media.

According to the "Law on Supplement to the Law on Investment Promotion" adopted on October 24, the sale of Lukoil's assets in Bulgaria could only be carried out by a decision of the Cabinet of Ministers based on a positive opinion of the State National Security Agency (SANS).

The law stated that SANS should conduct a preliminary investigation and submit a written opinion on the sale of shares and stocks in "Lukoil-Bulgaria" EOOD, "Lukoil Neftochim Burgas" AD, "Lukoil Aviation Bulgaria" EOOD and "Sustainable Energy Supply" EOOD.

The Bulgarian President said that this law makes the Cabinet of Ministers functionally dependent on the opinion of the State National Security Agency, which is unacceptable according to the constitution.

Toghrul Guluzade

Bulgaria Lukoil Rumen Radev presidential veto law amendment State National Security Agency SANS investment law asset sale constitutional issue energy sector government oversight