According to the decisions of politicians reported by “Rzeczpospolita”, citing the BTA agency, the abandonment of Russian oil is to take place in two stages. At the beginning of 2024, export quotas will be suspended, and in March, the import and refining of raw materials from Russia will be ended “forever”.
Minister of Finance of Bulgaria Asen Vasiliev reassures his compatriots by saying that the decision will guarantee stability on the domestic fuel market. It is also supposed to be beneficial for citizens because: ends supporting Russia with Bulgarian fees for raw materials.
The introduction of a legal ban on imports is a huge blow to Lukoil, which is a monopoly on the Bulgarian market. The Russian company warns that politicians’ decision may lead to fuel shortages. Wasilev called the announcement a bogeyman.
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Bulgaria is fighting with Lukoil
This is not the first edition of the fight between Lukoil and Bulgaria. The Russian company was the operator of its Bulgarian refinery on the Black Sea for a long time. However, it lost this status due to, among others, many years of monopolistic practices.
-The Russian giant is to pay a fine for blocking competition in Bulgaria for at least 5 years. This includes, for example, limiting access to a leased oil terminal. The Neftokhim-Lukoil refinery imported approximately 3 million barrels of oil per month, which covers 10 percent. Bulgaria’s fuel needs.
The Bulgarian parliament urgently adopted a law on depriving a Russian oil company of a license to use a terminal on the Black Sea in July 2023. The withdrawal of energy resources from Russia is intended to make it more difficult for it to continue the war in Ukraine.
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