OREANDA-NEWS  The Bulgarian authorities have agreed with Lukoil Neftochim Burgas to continue working and exporting petroleum products to the European Union (EU) until the end of 2024, despite warnings from the European Commission that this would violate sanctions against the Russian Federation. This was reported on November 22 by the Euractiv portal.

According to Hristo Alekseev, Bulgaria's Deputy Prime Minister for Economic Policy, this agreement will allow Bulgaria to replenish its budget by €350 million thanks to the oil export tax.

"From January 1, 2023, Lukoil will transfer all production, income and taxes to Bulgaria, and not, as it was before, to the Netherlands or Switzerland," the publication quotes Alekseev as saying.