Bulgaria to let Russian oil refinery export despite EU ban

By VESELIN TOSHKOV
Associated Press

SOFIA, Bulgaria (AP) — Bulgaria will allow a Black Sea refinery owned by a Russian oil company to keep operating and exporting oil products to the European Union until the end of 2024 despite warnings by Brussels that it is against the bloc’s sanctions. Government estimates say the deal between Bulgaria and Russian-owned Lukoil will give an additional 350 million-euro boost to Bulgaria’s budget. The deal also benefits Lukoil, allowing its Bulgarian facility to partially avoid an upcoming EU embargo on most Russian oil products. Bulgaria received an exemption from the sanctions until the end of 2024. The Balkan country’s sole refinery is the main source of gasoline and diesel fuel sold on the Bulgarian market, but half of the production is for export.