The Finnish gas station chain Teboil, owned by Russian "Lukoil", announced that it is preparing to close its facilities due to the depletion of fuel reserves amid US sanctions against the parent company. This was reported by Reuters, writes UNN.
Details
"Gas stations will be closed in stages, after fuel reserves are depleted," Teboil said in a statement.
According to the company, it has 430 gas stations in Finland, which is approximately one-fifth of the 2,250 gas stations in the Scandinavian country.
On Monday, Teboil said it expects Lukoil to sell the chain as part of the Russian group's ongoing efforts to sell foreign assets.
Last month, the Finnish Financial Supervisory Authority said that banks and other Finnish institutions under its regulation should exercise caution in their dealings with Lukoil and companies directly or indirectly owned by it.
Recall
On Tuesday, October 22, the United States Department of the Treasury officially imposed sanctions against leading Russian oil companies Rosneft, Lukoil, and their subsidiaries. The US called on Moscow to "immediately" agree to end the war against Ukraine.
On Wednesday, October 23, Vladimir Putin stated that the new US sanctions are serious but will not affect the Russian economy. He called them an attempt to exert pressure and an unfriendly act that does not strengthen Russian-American relations.
Later, Donald Trump reacted to Vladimir Putin's statement about Russia's alleged immunity to American sanctions. The US President ironically noted that he was glad to hear about the dictator's "confidence" but preferred to see how Russia would cope with the restrictions.