Bulgaria to get exemption from EU's Russian oil embargo until end of 2024

Bulgaria will receive the exemption from the EU coordinated sixth package of sanction that includes the Russian oil embargo until end of 2024, Bulgarian prime minister Kiril Petkov said on Tuesday, Sofia’s state press reported citing the government press office. Petkov emphasized that the exemption was necessary for Bulgaria as the state oil refinery, Lukoil Neftochim Burgas, has been processing primarily Urals crude oil arriving from Russia under the existing contracts, and that Bulgaria will need more time to switch to the alternative options, Petkov said in a press release.

Bulgarian oil corporation Lukoil Bulgaria and oil refinery Lukoil Neftochim Burgas, operate with Russia's Lukoil to secure the exports of the Russian oil. 

"This is an opportunity for us to sort out our refinery and avoid price increases based on changes in the mix," Petkov said at the press conference held on the sidelines of the meeting of EU leaders in Brussels. 

Bulgaria seeks to play a role in removal of Russian port blockade

Bulgaria has also pledged to play a major role in removal of the Russian blockade that triggered a global hunger crisis. The Bulgarian leader announced that Sofia will work towards mitigating the disruption caused by the invading Russian troops as they continue to seal off the crucial Ukrainian ports for exports in the Black Sea. Petkov said that he will ensure unblocking of the port of Varna, which he said was the major “elements of solutions” that the EU bloc is currently weighing. The European Union plans to establish the “blue corridors," or safe shipping corridors that would export the grain out of Ukraine, the Bulgarian prime minister told the reporters on May 31, Tuesday. 

On May 31, the members of the European Union met in Brussels to approve the sixth package against Russia that includes the crude oil and petroleum products. The EU, although, only partially imposed the sanctions exempting the key pipeline oil exports from Moscow into the bloc’s member states by sea. The bloc also recently agreed to supply Ukraine’s military with the new exceptional macro-financial assistance worth up to 9 billion euro ($9.65 billion) by this year to help the Ukraine fight the invading forces to maintain its territorial sovereignty and integrity.