A lubricant blend for use on a wire exposed to an HFC refrigerant. The lubricant blend includes an organic phase and an aqueous phase. The organic phase includes a lubricant which has a defined solubility in the HFC refrigerant and a lubricity suitable for application to the wire. The organic phase also includes a solvent in which the lubricant is soluble and, optionally, a hydrophobic surfactant. The aqueous phase includes a surfactant which forms an emulsion between the organic phase and the aqueous phase, which has a defined solubility in a non-CFC containing refrigerant. A magnetic wire lubricant, method of making the lubricant blend, and compressor using the lubricant blend are also described.