The Finnish gas station operator “Teboil”, whose majority shareholder is the Russian oil company “Lukoil”, announced on Wednesday that it is preparing to close all PECO stations in Finland. The decision comes against the backdrop of fuel exhaustion, caused by the American sanctions imposed on the Russian company. Thus, Finland becomes the first member state of the European Union intending to close “Lukoil” gas stations, reports IPN.
The company “Teboil” has specified that all gas stations will be closed once fuel stocks are exhausted. According to public information, “Teboil” owns 430 PECO stations in Finland, which is approximately one fifth of the total 2,250 gas stations in the country, according to a report published last year.
The United Kingdom, the European Union, and the United States have imposed sanctions on two of Russia’s largest oil companies – Lukoil and Rosneft – as a result of the war waged by Russia in Ukraine. The US measures, initially scheduled to take effect on November 21, were postponed through a temporary exemption for certain Lukoil transactions. The license issued by the Treasury Department expires on December 13.
