Bulgaria closes access to Russian oil, which allowed the Kremlin to earn €1 billion

Bulgaria will stop importing Russian crude oil from March 2024, that is, 6 months earlier than planned. The countryʼs government approved such a decision after it became known that this loophole helped the Russian Federation to circumvent Western sanctions and allowed the Kremlin to attract an additional billion euros for the war against Ukraine.

This was reported by the Ministry of Energy with reference to the Bulgarian publication "The Sofia Globe".

It is noted that the rejection of Russian oil will take place in two stages: on January 1 of next year, the country will suspend export quotas, and from March 1, the import and processing of oil from Russia will be completely stopped.

Bulgarian Finance Minister Assen Vasyliev emphasized that such a decision is useful, as it prevents money from being sent to Russia, and also guarantees stability in the domestic fuel market.

In addition, the agreements made will help to avoid a vote of no confidence in the government, scheduled for November 22, 2023.

• On November 9, "Politico" found a sanctions loophole in Bulgaria, thanks to which Russia earned a billion euros.
• It was previously reported that Bulgaria allowed millions of barrels of Russian oil to enter the local Lukoil oil refinery, which then exported the fuel abroad, including to EU countries.