The European Commission will investigate Bulgaria after it emerged that Russian oil company Lukoil took advantage of a loophole in EU sanctions to raise 1 billion euros for the Kremlin’s military needs, POLITICO reported.
Taking advantage of an exemption from the EU ban on Russian oil agreed last year, Bulgaria allowed millions of barrels of oil from Moscow to reach a Russian-owned refinery on its territory, which then exported various refined fuels abroad, including to EU countries .
“We paid attention to this and asked for an explanation from the Bulgarian side,” said a senior Commission official, who requested anonymity.
“It’s true that these derogations and exceptions can cause problems,” the official said, adding that “we are trying to phase them out, but I can’t hide the fact that there are still a few loopholes here and there,” he added .
The paper said the loophole allowed Russia to collect approximately 983 million euros, while also generating almost 500 million euros in profits for refinery owner Lukoil.
Bulgaria was allowed to import Russian crude oil by sea last year after it argued that the supplies were necessary for its energy security, the publication added.
2023-11-09 19:42:05
#European #Commission #investigate #Bulgaria #Lukoil
