La Repubblica learned about the plans of the Italian authorities to nationalize the Lukoil plant in Sicily

The Italian government is considering the nationalization of the company’s “Lukoil» ISAB refinery on the island of Sicily. The meeting to discuss this proposal will take place on Thursday, 1 December. About it informs newspaper La Repubblica, citing sources close to the process.

The publication notes that the Italian authorities intend to take such a step in connection with the entry into force of new EU sanctions against Russia, according to which, from December 5, an embargo on the import of Russian oil will be in effect. The Lukoil plant in Sicily is processing Urals oil.

According to the newspaper, the country’s government considered state intervention the only possible solution to save the enterprise. It is specified that more than 10,000 employees work at the plant. The publication notes that in the event of nationalization, the company will be able to purchase oil from other suppliers.

Currently, the issue of transferring the plant under the control of the Italian Ministry of Economy is being worked out by Minister of Economy and Finance Giancarlo Giorgetti and Minister for Enterprises and Made in Italy products Adolfo Urso, writes La Repubblica.

Urso said in November that the Italian authorities were considering all possible options to ensure the operation of the Sicilian plant. He also said that the country intends to apply for a delay in the imposition of an embargo on Russian oil. However, later Urso informedthat Italy made such a request too late, in contrast to “more astute European countries, such as Germany and Poland, as well as Bulgaria,” he added.

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