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WIEE Bulgaria among 31 Western energy firms sanctioned by Russia

WIEE Bulgaria among 31 Western energy firms sanctioned by Russia Author: Gazprom. License: All rights reserved.

SOFIA (Bulgaria), May 12 (SeeNews) - Energy wholesaler WIEE Bulgaria is on a list of 31 European and US companies with which Russia has banned any economic activities, transactions and payments, according to a presidential decree issued by president Vladimir Putin earlier this month, the Russian government said.

A large part of the group of companies against which the sanctions will be in place is made up of Gazprom subsidiaries in Germany, Switzerland, the UK, France, the US and Singapore, the Russian government said in a statement on Wednesday.

WIEE affiliates in Romania and Hungary are also on the list, which was adopted in retaliation to Western sanctions aimed at cutting off economic ties with Russia over its invasion of Ukraine.

Sofia-based WIEE Bulgaria is a wholly-owned subsidiary of Swiss company Gazprom Schweiz, according to the Bulgarian commercial register. Its main activity is the purchase and wholesale distribution of natural gas, all other types of gas and solid fuels. According to the company's most recent annual report available, its revenue jumped by 61% year-on-year to some 2.7 million levs ($1.38 million /1.44 million euro) in 2019. WIEE Bulgaria's net profit grew to 185,000 levs in 2019 from 4,000 levs a year earlier.

The Russian countersactions are also valid for EuRoPol GAZ, a Polish company in which Gazprom and Polish energy firm PGNiG each own 48% share. EuRoPol GAZ operates the Polish section of the Yamal-Europe natural gas pipeline.

(1 euro = 1.95583 levs)


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