Minus EUR 1 billion: Bulgaria has closed the oil loophole for the Russian Federation - Ministry of Energy
"Bulgaria decided to stop importing raw oil from Russia in March 2024, ie 6 months earlier than planned," the Ministry of Energy said. The department stated that such a decision would prevent the Russian Federation to circumvent. This loophole allowed the Kremlin to attract an additional 1 billion euros in hostilities against Ukraine. It is noted that the refusal of Russian oil will be in two stages.
From January 1 of the following year, Bulgaria will suspend export quotas, and from March 1 - the import and processing of oil from the Russian Federation will be completely stopped. According to the Ministry of Energy, the Minister of Finance of Bulgaria Assen Vasilyev emphasized that such a decision is useful because it stops exports and money sent to Russia. The solution also guarantees stability in the domestic fuel market.
At the end of September, it was reported that members of the Bulgaria Economic Committee made a decision to put into effect the law on the use of Russian oil, starting on October 1, 2024, instead of the 30-day period proposed. But the Minister of Economy Bogdan Bogdanov stated that the introduction of a ban on imports of Russian oil for 30 days may cause a sharp increase in fuel prices.
This decision was included in the second reading of the bill, the final decision was planned to be made at a plenary session. In addition, on November 15 it was reported that Bulgaria came up with how to make gas from gas from the Russian Federation. In Bulgaria, since the mid -October 2023, tax on import and transit of pipeline natural gas from Russia began to operate.