SOFIA, April 17 (Reuters) – Russia’s South Stream pipeline
project must not be blocked for political reasons and Bulgaria
plans to start construction this year despite the standoff
between the West and Moscow over Ukraine, Bulgaria’s energy
minister said on Thursday.
The future of the 2,400-kilometre (1,490-mile) pipeline from
Russia via the Black Sea to southern Europe, avoiding Ukraine,
has been cast into doubt since Russia’s annexation of Ukraine’s
SOFIA, April 10 (Reuters) – Georgi Kadiev is, like many of
his fellow Bulgarians, caught between Russia and the West.
A member of parliament with the ruling Socialist party, his
government has gone along with sanctions on Moscow over its
annexation of Crimea, but at the same time he feels the cultural
and historical pull of Bulgaria’s long association with Russia.
SOFIA, April 3 (Reuters) – The standoff between the West and
Russia over Ukraine may temporarily disrupt building the South
Stream gas pipeline, but there is no long term threat to the
project for now, Bulgaria’s foreign minister said on Thursday.
The future of the 2400 km (1,490 mile) line from Russia via
the Black Sea to Europe, avoiding Ukraine, has been cast into
doubt after Russia’s annexation of Crimea. Bulgaria, almost
entirely dependent on Russian energy supplies, would be a major
beneficiary of the pipeline.
SOFIA (Reuters) – Bulgaria’s nationalist Attack party will work to topple the government if Sofia backs a new round of Western sanctions against Russia over its annexation of Crimea, the party’s leader told Reuters in an interview on Tuesday.
Attack holds the balance of power in the Bulgarian parliament, and its threat is an extreme example of the domestic pressures European governments face in taking a position on the worst crisis in East-West relations since the Cold War.
MOSCOW/SOFIA, March 21 (Reuters) – A consortium led by
Russia’s Stroitransgaz, owned by sanctions-hit businessman
Gennady Timchenko, is set to win a 3.5 billion euro ($4.82
billion) deal to build a section of the South Stream natural gas
pipeline across Bulgaria, industry sources said on Friday.
Expected to start deliveries in late 2015, South Stream will
carry Russian gas across the Black Sea and bypass Ukraine with
which there have been gas rows in the past that have disrupted
supply to the European Union.
ABOARD THE USS TRUXTUN, Black Sea, March 19 (Reuters) – A
U.S. guided-missile destroyer carried out another round of navy
drills in the Black Sea on Wednesday, the latest display of
American military power just a few hundred miles away from
The USS Truxtun, a warship capable of carrying 96 missiles
and torpedoes and equipped with a special radar system,
performed exercises in calm waters with fellow NATO members
Romania and Bulgaria, following a similar round last week.
SOFIA, March 18 (Reuters) – Bulgaria has given three
foreign-owned energy distributors until Wednesday to pay back
money it says they owe to state power provider NEK or risk
losing their licences, escalating a standoff that could hurt the
country’s investment climate.
The chairman of Bulgaria’s energy regulator, Boyan Boev,
said the companies, controlled by Austrian EVN, Czech
CEZ and Energo-Pro, must pay back 318 million
levs ($226.4 million) to state utility NEK.
SOFIA, March 10 (Reuters) – Bulgaria hasn’t stopped
preliminary work on the Russian-led South Stream gas pipeline
project, its prime minister said on Monday, but Sofia was
“closely monitoring” relations between Brussels and Moscow over
the turmoil in Ukraine.
The comments at a press conference came after Bulgaria’s
foreign minister over the weekend said work on the pipeline
should probably be suspended for a few days or weeks in view of
the political upheaval in nearby Ukraine.
SOFIA, Feb 6 (Reuters) – Bulgaria’s fledging bourse shot up
40 percent last year thanks to its undervalued stocks and a
recovering economy but it is unclear whether such a strong run
is sustainable in 2014, the bourse’s chief executive said.
The exchange’s blue chip index has grown 11 percent
since the start of the year, but the stocks are still far below
the level seen before the global financial crisis, which sent
the index down 80 percent in 2008.
SOFIA, Jan 30 (Reuters) – A few months ago Bulgarian Prime
Minister Plamen Oresharski’s government looked as though it
would fall as ten of thousands joined protests against endemic
Without clear leaders, the protesters ran out of steam and
now only a handful remain outside the parliament of the small
Balkan country, outflanked by so many riot police they joke it
feels like a police rally.