PM Petkov: Bulgaria gets exemption from EU ban on Russian oil imports until end-2024

Bulgaria will use Russian oil until the end of 2024. The exception for the country is already a fact and will be detailed in the conclusion of the European Council meeting, which will be published in 2-3 days, Prime Minister, Kiril Petkov, said before the second day of the European Council meeting, May 31.

"This derogation was vital for us and the good thing is that it is not for one or six months, it is until the end of 2024 so that we can sort out our refinery (Lukoil Neftochim Bourgas) without affecting the price because of the change of mix. This allows our refinery to work and in the meantime to technically adapt to work with other oil," Petkov said.

The Prime Minister pointed out that Bulgaria is the only country with a port for which such an exception is made. Problems with payments for Russian oil are not expected as Lukoil actually pays a Swiss company, he added.

The PM said he was pleased that the sixth package of sanctions was a fait accompli as the ban on imports of 90% of Russian oil currently entering Europe would cut off many of the financial flows to Russia.

From Brussels, the Prime Minister also commented on the situation with the accommodation of refugees from Ukraine in state-owned accommodation facilities.

"We have given unprecedented support in some of the finest hotels. Now we are entering a reality more similar to that expected for refugees. I have the assurance from Deputy Prime Minister Kalina Konstantinova that the conditions in the state bases are good - there is no place with bad conditions, they are not in the hotels," he said.

Whether there will be a development as regards North Macedonia by the end of the French EU presidency depends on the extent to which Europe would accept the conditions set by Bulgaria, Petkov said. He added that diplomats in Sofia and Skopje were working actively, but whatever would be agreed would only happen after a decision of the Bulgarian National Assembly.

Asked by a journalist about the risk of a global food crisis due to the war in Ukraine, Prime Minister Kiril Petkov noted that Bulgaria is a large exporter of grain and could be part of the solution.

"As a country we are an exporter of this very valuable commodity and we will not have a food crisis," he assured.

The Prime Minister pointed out that various options are being considered at the European level, including "blue corridors". The port of Varna could also be one of the solutions.

In this context, Petkov pointed out that Bulgaria is beginning to occupy key positions and to be perceived as a leading country and part of the solution to the problem of grain exports from Ukraine.

The Prime Minister pointed out that Bulgaria's reputation in the European Council is improving, while the country is defending its national interests.

Late last night, European Union leaders reached political agreement on the sixth package of sanctions against Russia, which includes an embargo on imports of 90% of Russian oil and oil products until the end of the year. Bulgarian Prime Minister Kiril Petkov announced in Brussels that Bulgaria would receive an exemption from the embargo until the end of 2024.

The sanctions cover imports of oil products by sea, temporarily excluding supplies via the Druzhba pipeline to landlocked countries such as Hungary, the Czech Republic and Slovakia.

European leaders also agreed that the Union would provide up to €9 billion in financial assistance to Ukraine this year. The summit continues today, with euro leaders set to discuss energy prices and European defence issues.

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