Bulgaria is looking at ways to preserve partial exports from its Black Sea refinery, which faces drastic output cuts by the European Union’s ban on Russian oil due to start next week.
The 27-nation bloc wants to curb Russian crude exports in a bid to throttle funding for Moscow’s war in Ukraine. Countries with limited options for alternative sources, such as Hungary, Slovakia, the Czech republic and Bulgaria, are temporarily exempt from the sanction. A ban on fuels produced from Russian crude is due to begin in February.
The Balkan country -- a former close ally to the Soviet ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.