site.btaBulgarian Government Members See No Cause for Panic over US Sanctions on Russian Oil Companies

Washington’s latest sanctions targeting Russia’s largest oil companies, Lukoil and Rosneft, remained a hot topic in Bulgaria on Friday in light of Lukoil’s operation of the country’s only oil refinery, Neftochim, in the seaside city of Burgas.

Justice Minister Georgi Georgiev said the Neftochim refinery and several other subsidiaries representing the Lukoil group in Bulgaria meet the criteria of the newly announced US sanctions. According to him, the Bulgarian authorities react to specific filings that may indicate attempts to change ownership in violation of sanctions, and several such attempts have been reported. Georgiev said the Justice Ministry is taking measures to ensure adequate fuel supplies for the Bulgarian people. The Minister accused his political opponents of using the ongoing events for fearmongering.

Energy Minister Zhecho Stankov said Bulgaria has a clear action plan following the US decision to impose sanctions on Rosneft and Lukoil, and fuel supplies for the Bulgarian market are fully secured until the end of the year. He emphasized that Bulgaria will act in coordination with its European partners facing the same situation. Regarding speculation about possible fuel price increases, Stankov said the market will be closely monitored and control measures will be taken if necessary.

Ivaylo Mirchev, co-chair of Yes, Bulgaria and MP from Continue the Change- Democratic Bulgaria, said Delyan Peevski and Boyko Borissov are attempting to negotiate Peevski’s removal from the US Magnitsky sanctions list against a deal involving Lukoil and the TurkStream gas pipeline. Mirchev said that over the past two years, Borissov has had several meetings with influential figures in Washington, raising the question of “doing something to get Peevski off the Magnitsky list.”

Velichie MP Krasimira Katincharova said the subsidiary of Russia’s oil company Lukoil in Bulgaria is preparing for possible government control in case of a change in ownership. She noted that Delyan Peevski, sanctioned for corruption both in the US and the UK, has been becoming ever more deeply embedded in the governance of the Bulgarian state over the last 11 years.

Vazrazhdane leader Kostadin Kostadinov said Prime Minister Rosen Zhelyazkov should stop listening to those around him who are telling him that Lukoil’s business in Bulgaria must be sold. He warned that the Bulgarian state is preparing to interfere directly in the affairs of a private company — and one of the largest in the world.