The Romanian government has issued a decree allowing the takeover of Lukoil

The decree gives the Romanian government the authority to appoint special administrators for companies that, due to sanctions, could disrupt the local economy, cause price spikes, or threaten energy security, Reuters reports.

Such a move requires prior approval from Romania’s highest defense council, the statement adds.

Lukoil owns 320 gas stations in Romania, the country’s third-largest refinery, and oil and gas exploration rights in the Black Sea sector.

The refinery, which supplies about a quarter of Romania’s fuel market, has been closed for several weeks for regular maintenance.

Officials say Romania has sufficient fuel reserves to avoid price spikes that could further worsen inflation, currently the highest in the European Union.

The decree also allows the Romanian government to take control of Lukoil’s exploration rights in the Black Sea.

This move follows a similar initiative by neighboring Bulgaria, where authorities in Sofia passed a law placing Lukoil’s refinery in Burgas under state supervision.