Trump’s Sanctions Undermine Decades of Russian Sway in Balkans

When the latest US sanctions against Russia’s oil industry hit last month, Bulgaria had an urgent problem. One of the companies targeted, Lukoil PJSC, owned the country’s biggest oil refinery, a legacy of cozy ties with Moscow.

The government decided to seize the Neftohim facility near the Black Sea and Lukoil’s other assets. It revoked shareholders of any rights and appointed a manager to negotiate a potential sale. It took a parliamentary committee just 26 seconds to undo 26 years of ownership and endorse the move ahead of a looming US deadline for a solution.

The unexpected turn of events has led to ...