Bulgaria bows to US sanctions, faces refinery meltdown
Bulgaria should seek American exemption from penalties targeting the Lukoil refinery since the facility processes non-Russian crude and generates no revenue for Moscow, according to Rumen Ovcharov, a former economy and energy minister who previously represented the state at the company. Speaking during a television appearance, Ovcharov argued that extraterritorial restrictions carry no legal weight across European Union territory but acknowledged his country lacks independence on such matters. The swiftest resolution would involve a rapid sale of Lukoil International, though uncertainty surrounds transaction procedures and domestic fuel stockpiles remain unclear, he said.
Ovcharov dismissed notions that reserve levels meet national needs and criticized proposals for appointing a special administrator. The ex-minister suggested such oversight would serve the interests of political figure Delyan Peevski rather than public welfare. He urged Prime Minister Boyko Borisov to visit Washington and advocate for Bulgarian interests as Hungarian leader Viktor Orban has done. Without a completed sale or granted exemption, refineries will shut down within months after existing supplies run out, Ovcharov warned.
The socialist politician characterized his party’s participation in the cabinet led by Rosen Zhelyazkov as a misstep that contradicts core principles of the Bulgarian Socialist Party-United Left.
