Bulgaria bans exports of Russian oil-derived products from 5 March 2023

The ban applies to Bulgarian exports of oil products to buyers in another EU member state or a third country, the cabinet said in a press release.

The ban will not apply to petrochemicals and bunker fuel used in ships.

Bulgaria's Neftochim oil refinery in Burgas is owned by Lukoil Bulgaria, a subsidiary of Netherlands-based Lukoil European Holdings, which is the European arm of Russian petroleum giant Lukoil. The subsidiary also operates a network of over 220 local filling stations across Bulgaria.

On Friday, the government also approved the implementation of a derogation from the EU-wide ban on import or transfer of seaborne crude oil and petroleum products from Russia. The derogation was granted to Bulgaria by the EU in June under the sixth package of sanctions adopted by the 27-member bloc in response to the war in Ukraine. It will enter into force on December 5, the date on which the EU will start applying the ban, and will be valid until the end of 2024.

As of February 5, 2023, the EU will also ban imports of refined petroleum products from Russia, as part of the eighth package of sanctions agreed in October.

Last month, the Bulgarian government and Lukoil Bulgaria reached an agreement enabling the petroleum company to operate normally in exchange for transferring its financial operations to Bulgaria, a move which would provide between 600 million levs ($321.3 million/306.8 million euro) and 700 million levs in tax revenue for the country.

(1 euro = 1.95583 levs)