La Repubblica: Italy is preparing to nationalize the refinery of the Russian company Lukoil – WarNews247

https://warnews247.gr/la-repubblica-i-italia-etoimazetai-na-kratikopoiisei-to-diylistirio-tis-rosikis-etaireias-lukoil/

The Italian government is preparing to nationalize the refinery of the Russian oil company Lukoil in Sicily.

In fact, the matter is to be discussed at the cabinet scheduled for Thursday, as reported by La Repubblica newspaper, citing sources involved in the case.

The move is related to the European embargo on Russian seaborne oil due to come into effect on December 5, as Italy’s government seeks to keep the ISAB refinery in Sicily running and avoid putting jobs at risk or reduce the country’s refining capacity, according to Reuters.

It is noted that Lukoil’s ISAB unit in Sicily refines 1/5 of Italy’s crude oil and employs around 1,000 workers.

With the Italian government taking over the refinery’s management, the unit will be able to continue operating by buying oil from other suppliers, with Italian export credit agency SACE providing the necessary guarantees to creditor banks, La Repubblica adds.

Italy’s industry ministry, according to Reuters, was not immediately available to comment on the matter.


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