Romania Ready to Impose Oversight of Companies Hit by Sanctions

Romania will set up a mechanism to place companies at risk of being hit by international sanctions under special oversight, such as the local unit of Russian state-owned Lukoil PJSC, a cabinet member said.

Justice Minister Radu Marinescu said a draft emergency decree published Wednesday, though it doesn’t name specific companies, would affect Lukoil. The Moscow-based oil producer operates Petrotel, a refinery that processes some 50,000 barrels of crude a day and is set to come under US sanctions announced last month.