Bulgaria Will Continue Exporting Oil Products From Russian Oil

November 22, 2022 (EIRNS) The Bulgarian caretaker government has reached an agreement with Lukoil Neftochim Bulgaria whereby the company will pay taxes in Bulgaria and not in Switzerland or the Netherlands. Despite warnings from Ursula, the company will continue exporting oil products to the EU until 2024. The Economics Ministry pointed to an exception that exempts “refined petroleum products produced in a third country based on Russian crude oil and exported to another country or a third country” from sanctions “because they were produced outside Russia.” This is reversal of the policy of the previous government, which was voted out of office. Lukoil Neftochim Bulgaria is the largest refinery in the Balkans and is located in the Black Sea port of Burgas. It can only refine Russian oil and rare types of oil from the Middle East. In 2020, the company reported losses of €255 million. Tax revenues are expected to €400-450 million per year. (CGL) https://www.euractiv.com/section/politics/news/bulgaria-accepts-russian-lukoils-tax-cash-for-eu-exports-offer/