site.bta Industry Association Leader: No Disruptions Expected on Bulgarian Fuel Market after US Sanctions on Russian Oil Companies

No disruptions or price increases are expected on Bulgaria’s fuel market following the US sanctions imposed on Russian oil companies Rosneft and Lukoil, Bulgarian Petroleum and Gas Association Chair Svetoslav Benchev told BTA. "For now, I don’t expect anything to happen. There are sufficient fuel quantities on the market, supplies are secured, and gas stations are operating normally," Benchev said.

He clarified that the sanctions imposed by the United States are territorially limited and affect American companies and citizens, without having direct effect on the territories of other countries, including Bulgaria.

Benchev added that although oil prices rose by more than 3% in Asian trading Thursday, the movement is short-term and not expected to lead to a lasting trend of price increases. "There are no grounds for panic or price speculation," he emphasized.

Meanwhile, Washington stated that it is ready to take further action if Moscow does not agree to an immediate ceasefire in Ukraine. Last week, the United Kingdom also imposed sanctions on Rosneft and Lukoil, while the European Union approved its 19th package of restrictions, including a ban on imports of Russian liquefied natural gas.