Rumen Spetsov has been appointed special administrator of the Lukoil group companies in Bulgaria.
He was appointed by a government decision taken by written procedure, following a meeting of the Security Council with Security Council on November 14.
With this step, Bulgaria expects to obtain a licence that will allow the Neftochim Burgas refinery to continue operating without disruption after 21 November, when US sanctions against the Russian oil giants Lukoil and Rosneft come into force.
Earlier, Parliament voted to overturn the presidential veto on amendments to the law expanding the powers of the special administrator. An extraordinary edition of the State Gazette was then issued, publishing the law so that it could enter into force.
This was immediately followed by a meeting of the Security Council, which made a recommendation to the government, and the cabinet subsequently appointed Spetsov.
It emerged that the race against time was necessary because a number of banks had notified the government that, in order to comply with the sanctions, they would cease card payments next week in retail outlets operating under the umbrella of Lukoil Bulgaria.
One of the measures to avoid disruption in the retail fuel market is the appointment of a special administrator, and the government chose to act swiftly to minimise the risk of problems.
The first result came from the United Kingdom, which postponed the imposition of sanctions on the Lukoil Bulgaria group until 14 February.
At the start of the Security Council meeting, Prime Minister Rosen Zhelyazkov said the steps taken were intended to establish public oversight of the activities of the Lukoil group companies in Bulgaria.
Prime Minister Rosen Zhelyazkov said:
"The aim, in relation to seeking a derogation from OFAC sanctions, is to ensure that after 21 November the refinery can continue its operations unhindered. This is critical infrastructure, and the state has obligations to society in this regard."
The Ministers of Energy and Justice briefed the Security Council on their discussions with US and UK partners, covering the period from the decision to impose sanctions on Lukoil and Rosneft up to the present moment.
Justice Minister Georgi Georgiev said:
"Throughout this period we preferred not to be slaves to words but masters of silence, sharing only what was necessary to protect an intensive, practically daily dialogue. Our last online meeting with our American partners was held last night, and as you can see, there are developments every day."
According to the Justice Minister, the law’s entry into force was delayed by a week because of the presidential veto, which in turn postponed the actions needed to mitigate the risks linked to the sanctions.
He added:
"This cost us another week in implementing measures intended to achieve the very aims for which the sanctions were imposed. The purpose of these sanctions is to ensure that countries hosting refineries such as Lukoil’s guarantee, through their own legislation, that they will exercise sufficient control to prevent revenues from these companies flowing towards the financing of the war or to sanctioned individuals."
The Security Council adopted a report from the Energy Minister outlining several scenarios, including a Plan B in case sanctions on the Lukoil group in Bulgaria are not lifted.
Energy Minister Zhecho Stankov explained:
"The most important scenario for us was Scenario A—under which, by 21 November, the state would receive either a derogation or a general licence, enabling all Lukoil-related facilities in the country—namely the four subsidiaries of the sanctioned Lukoil parent company—to continue their operations without interruption."
The proposal to appoint Rumen Spetsov as special administrator of the four companies was put forward by Economy Minister Petar Dilov.
Economy and Industry Minister Petar Dilov:
"Mr Rumen Spetsov meets all legal requirements. I believe his appointment will ensure effective and lawful oversight of the operator of this critical infrastructure. He is neutral with respect to both domestic and international players in the oil and petroleum products market. He has expertise derived from his long-standing supervisory and control work, and it is extremely important that he enjoys the trust of our international partners."
Rumen Spetsov, aged 51, graduated from the Academy of Economics with degrees in Economics and Trade, and Internal Financial Control. He later earned a qualification in National Security Protection from the Ministry of Interior Academy.
He has worked at the National Revenue Agency (NRA) since 2001. In May 2021, then–caretaker Finance Minister Assen Vassilev appointed him Executive Director of the NRA. In August 2022, the caretaker government led by Galab Donev dismissed him. Ten months later, when Assen Vassilev returned as Finance Minister in the Denkov government, he reinstated Spetsov as head of the NRA, a position Spetsov has held ever since.
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