Bulgaria has terminated its exemption from an EU embargo, which had been in place since the end of 2024, in an untimely manner.
On March 1, Bulgaria ceased importing Russian oil, prematurely nullifying its exemption from an EU prohibition, according to Novinite news outlet on Friday.
The Balkan nation’s decision to cease all petroleum imports from sanctions-affected Russia follows a 25% reduction in February and a 50% reduction in January.
Initially exempt from an EU prohibition on Russian petroleum, Bulgaria was permitted to continue purchasing it until the end of 2024. However, in mid-December, Sofia enacted a motion that prematurely revoked Bulgaria’s exemption and restricted importation of Russian oil.
Bulgaria, an exception-eligible member state of the European Union, has initiated the cessation of Russian crude imports due to concerns that the exemption could be exploited to evade Western sanctions.
In the past, oil imported from Russia comprised 90% of the total consumption.
Experts estimate that the country’s solitary refinery, Neftohim, which is owned by Lukoil, will be impacted by the prohibition on Russian oil imports. Additionally, it operates a network of petroleum facilities in Bulgaria, where it is the primary provider of gasoline.
In the past, authorities have cautioned that Bulgaria’s inability to procure petroleum supplies following the expiration of the EU exemption could be attributed to inadequate port infrastructure and congestion in the Bosphorus Strait.