Zhelyazkov on Lukoil: Sanctions and Guaranteed Fuels

With increased interest and under the spotlight, Prime Minister Rosen Zhelyazkov stood before journalists to answer numerous questions related to the complex saga surrounding "Lukoil."

The focus of the conversation was on ensuring strict adherence to the imposed sanctions and guaranteeing that not a single cent would be directed towards financing military actions in Ukraine.

"We will ensure compliance with the sanctions so that not a single cent goes to the war in Ukraine," the Prime Minister stated, emphasizing the government's commitment to act in accordance with international restrictions. He explained that from the moment the sanctions were imposed by the Office of Foreign Assets Control (OFAC), continuous discussions have been held with key institutions, including the Department of Finance, the office itself, the State Department, and the Department of Energy.

These discussions, led by Ministers Stankov and Georgiev, aimed to clarify positions and coordinate actions for the effective implementation of the sanctions. The Prime Minister emphasized that the law adopted on Friday represents an answer to the question of what the legal framework will be for the implementation of this policy. The law, after entering into force from the date of its publication in the State Gazette, will activate all measures provided therein.

Regarding additional security measures around "Lukoil" facilities, Prime Minister Zhelyazkov emphasized their preventive role. He pointed out that incidents at refineries in Europe, owned by Russian companies, are the reason for taking these measures in order to protect the critical infrastructure that the refinery and other engineering facilities of "Lukoil" represent.

Subsequently, the Prime Minister also explained what the special manager in "Lukoil" will be. According to the law, this will be a natural person or persons who will be determined after a thorough check and analysis of their integrity.

Journalists did not miss the opportunity to ask a question about specific names being discussed. The Prime Minister's answer was clear: "There have always been specifics, even in the hypothesis when we had to move from Russian oil to its diversification. There are names we are discussing. When the law comes into force, we will announce these names."

Despite the lack of judicial control, the Prime Minister assured that the manager will not be without control, but will act within the framework of the law.

Against the background of these measures, the Prime Minister tried to dispel concerns related to fuel supplies. He assured that there are enough fuels in the country, both from the reserves maintained by the State Reserve and from processed fuels.

The Prime Minister also touched on the topic of the budget, emphasizing that the budgetary procedure cannot be blocked. The tripartite dialogue is a form of coordination and procedure that is important for achieving the social interests of everyone in the country. The government treats this process with great responsibility, meeting with employers and hoping to hold a tripartite council and submit the budget to the National Assembly within the current week.

"There is an exchange of opinions, but in the social dialogue the benefits for some are shortcomings for others. We must find the necessary balance, because this budget, besides being the first budget in euros, must also respond to the fears of society - not to have high inflation and not to have a reduction in incomes. The state to continue to invest in infrastructure. If it is necessary to eliminate some revenue sources, it must be indicated what their alternatives would be and this is a conversation with employers," he emphasized.

At the end, the Prime Minister denied that there was a risk of entering a debt spiral. "As long as the debt is around 30%, there is no such danger. This budget is rather conservative, so that we can enter the next year calmly and without social tension and policies that are so widely proclaimed as reformist can be conducted slowly and evolutionarily, because after every ill-considered reform, there is always social degradation." concluded the Prime Minister.