Italy to put Lukoil-owned refinery under trusteeship on Thursday

Italy's government is set to put a Lukoil-owned LKOH refinery based in Sicily under trusteeship on Thursday, Sicily President said.

Sicily governor Renato Schifani said a cabinet meeting due to take place later on Thursday would approve the move for the Lukoil asset, a spokesman for the head of the region told Reuters.

The survival of Lukoil's ISAB plant is under threat due to a European embargo on Russian seaborne oil coming into effect on Dec. 5.