PM Petkov: Bulgaria exempted from embargo on oil imports from Russia till end-2024

Bulgaria has been exempted up to the end of 2024 from the European Union’s partial embargo on oil imports from Russia, Prime Minister Kiril Petkov told reporters in Brussels on May 31.

As The Sofia Globe reported earlier, the European Council agreed to the partial embargo – covering crude oil, as well as petroleum products, delivered from Russia into member states, with a temporary exception for crude oil delivered by pipeline – on May 30.

Petkov said that the exemption for Bulgaria would be recorded in the detailed conclusions of the European Council, which would be published in two to three days.

“What was agreed yesterday at noon has remained as a text,” Petkov said.

“Today will come the general conclusion, which has no exact details by country, but in the real agreements, which will come in two days, Bulgaria will have a separate paragraph with a derogation specifically for us, up to the end of 2024,” he said.

This would provide time for Bulgaria to adapt its refinery so that it could process other oil, he said.

“This derogation was vital for us and the good thing is that it is not one or six months, but up to 2024, so that we can fix the refinery without affecting the price due to changing the mix.”

Petkov said that he was pleased that the sixth package of sanctions was a fact, as a ban on the import of 90 per cent of Russian oil currently entering Europe would disrupt many financial flows to Russia.


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