“Bulgaria has a long-term cooperation with Russia in the sphere of energy, which has strategic dimensions. We are observing deep changes in the energy, and in particular in the gas transit infrastructure, and as a result Bulgaria is developing a potential for a future distribution of natural gas to Southeastern and Central Europe.” This is what President Rumen Radev said within the discussion held at the international economic forum in St. Petersburg.

The Head of State said that the common energy policies, which Bulgaria is member of, are in the process of development, and our country is working to achieve their goals of diversification and competitiveness. These changes create better opportunities for expanding Russia’s presence on the gas markets in Southeastern and Central Europe. “All this makes it necessary to answer the question pertaining to how under the new conditions we can continue our strategic cooperation with Russia,” Rumen Radev commented.  

The Bulgarian Head of State again reiterated that our country expects to transform its relations with Russia in the sphere of energy of which pricing is an essential element.

President Putin said, for his part, that the price of natural gas is related with the price of oil and identified it as a “fair price.” In his words, Bulgaria has incurred losses from the suspension of the South Stream project. In the Russian Head of State’s opinion this was not Bulgaria’s sovereign decision and the forgone investments in South Stream are the price of Euro-integration, which Bulgaria is paying.

President Radev said in reply that he cannot agree with the statement that Bulgaria’s sovereignty was restricted. South Stream was not only Bulgaria’s project, but also a European one and the decision made was common, the Head of State added. Rumen Radev emphasized also that that despite the current complicated formula for forming the natural gas price, we should look towards the future.

Within the forum President Rumen Radev and the Prime Minister of Slovakia Peter Pellegrini answered a question pertaining to the effect of the sanctions imposed on Russia. The Bulgarian Head of State said that sanctions are a method whereby through economic means political positions are changed. The business suffers from such decisions and they affect not only the country they are imposed on, but also the countries that impose them. Frequently sanctions are not an efficient solution, they have an impact on broad strata of the population and create a backlash against such a policy. “Bulgaria has a negative experience with the sanctions imposed on former Yugoslavia as a result of which a black market and organized crime emerged,” President Rumen Radev further recalled.