site.btaPM Says Fuel Market Will Stay as Calm as It Has Been

Bulgarian Prime Minister Rosen Zhelyazkov said on Saturday that the fuel market will remain as calm as it has been, and as long as the international oil prices are stable, the Bulgarian market will function normally. Talking to reporters in Tutrakan, he said the Lukoil oil refinery will continue to operate, and political disputes on the matter do not benefit society.
 
Zhelyazkov's comments came after Friday's decision of the Bulgarian government to appoint Rumen Spetsov as special commercial administrator to oversee Russian oil company Lukoil's operations in Bulgaria. Also on Friday, the UK and the US granted temporary exemptions for Lukoil entities in Bulgaria, until February 14 and April 29, 2026, respectively.

The Prime Minister said Sofia would ask for a new sanctions waiver in April.

Zhelyazkov disagreed with President Rumen Radev, who raised legal concerns about Spetsov's appointment. The President said on Saturday that under the law, the special commercial manager must draft a detailed six-month plan of action, which must then be submitted to the Security Council at the Council of Ministers for approval, and that has not been done.

The Act on Administrative Regulation of Economic Activities Associated with Oil and Petroleum Products itself contains a number of imperfections, said Zhelyazkov. He added that Spetsov's expertise comes from his long experience as a control and supervisory official, especially with regard to excise goods. His integrity has been tested under many governments, said the Prime Minister. "We believe that his appointment allows each Lukoil subsidiary to maintain, in whole or in part, its operational staff. Our task is not to send signals that Bulgaria's investment climate has deteriorated," he said.

Spetsov has been executive director of the National Revenue Agency since 2021.

In Tutrakan, Zhelyazkov met with local government representatives and inspected the overhaul of a major thoroughfare, financed under the Recovery and Resilience Plan.