There Are No Alternatives To Russian Oil For Bulgaria Now - Company

MOSCOW (UrduPoint News / Sputnik - 05th May, 2022) There are currently no alternatives to Russian oil for Bulgaria, Lukoil's subsidiary Lukoil Neftochim Burgas said.

"Currently, we do not see real alternatives, since there are no other types of oil on our market. Technically, we can process oil from the middle East and North Africa, but this will reduce the refinery's capacity," the local BTV television channel quoted the company as saying.

According to the channel, experts predict a rise in fuel prices in Bulgaria by 20-30 percent in the event of an embargo on Russian oil.

EU foreign policy chief Josep Borrell said earlier that the sixth package of European sanctions against Russia would include cutting off new banks from SWIFT, new sanctions "for disinformation" and restrictions on oil imports.

Agence France-Presse reported on Tuesday, citing unnamed EU officials, that Bulgaria and the Czech Republic could request an exemption from the EU's embargo on Russian oil.