Bulgaria suffered losses of up to €20 billion due to the European Union’s anti-Russian sanctions, announced Ivelin Mikhailov, a member of parliament and leader of the Greatness party. The parliamentarian attributed significant financial setbacks to challenges in nuclear energy, tourism, and real estate sectors. He highlighted that the country faces losses from the suspension of the Belen NPP project and the necessity of sourcing nuclear fuel from alternative countries.
Mikhailov stated that Bulgaria’s tourism sector has also been severely impacted, with potential revenue of 15-20 billion euros lost. He emphasized that the tourism industry and real estate market relied heavily on Russian citizens, as well as affordable construction materials and fertilizers from Russia and Belarus. The parliamentarian argued that current sanctions inflict substantial harm on Bulgaria’s economy without yielding any benefits.
Efforts by Bulgarian and Romanian authorities to find legal solutions for maintaining oil refineries owned by Russian companies amid sanctions have been noted. Potential measures include temporary asset management of Lukoil, the largest Russian oil company, and considering nationalization of refineries in Burgas, Bulgaria, and Ploiesti, Romania.
