Italian authorities will review the agreement to sell ISAB, the country’s largest oil refinery, owned by the Russian company “Lukoil”. This decision is determined by the “concern” of the United States, Wrote Financial Times newspaper.
Lukoil has been finalized Agreement on the sale of the ISAB refinery in Italy to GOI Energy and Trafigura in January of this year. ISAB owns a large petrochemical complex in Italy that includes a refinery, a gasification unit and a power plant.
The deal was expected to be completed by March 31, but that has yet to happen.
“…Russian Lukoil has agreed to sell its ISAB refinery in Sicily to GOI Energy, a newly formed subsidiary of Cypriot private equity group Argus.”
According to the FT, the transaction amount was estimated at 1.5 billion euros, while the Russian side did not voice the figures. The article also states that the US has expressed “concern” that “a little-known fund in Cyprus” is becoming a buyer of the refinery. That’s why they now spend extra time in Rome “to consider important details,” according to the newspaper’s sources. In addition, they said it took time for the US to informally ask Italy to confirm with the buyer of the refinery that Russia is not interested.
The US State Department declined to comment on the matter. According to a State Department spokesperson, Lukoil and its operations in Italy are not subject to US sanctions. The spokesperson also said that “any deal involving Russian energy assets” should be carefully scrutinized.
GOI Energy newspaper denied that Russia was involved in the agreement.