site.btaUPDATED President Radev Expects All Measures to Prevent Fuel Crisis in Bulgaria to Be Taken

President Rumen Radev told reporters on Thursday that he expects that all measures to prevent a fuel crisis in Bulgaria will be taken, as this is extremely important.

The US has imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, because of the war in Ukraine, and has announced that it is prepared to take further action. Washington called on Moscow to immediately agree to a ceasefire in Russia's war in Ukraine, Reuters reported.

What will the exact nature of the sanctions be is yet to be determined. “It is too early to speculate,” Radev said. “The most important task the government faces is to ensure that there is no fuel crisis or a price rise,” the President added. Every day the war continues will lead to an escalation in all spheres, Radev said.

The head of State participated in a business forum in Sofia on the opportunities for cooperation between Bulgaria and Vietnam.

The Bulgarian National Bank (BNB) has begun reviewing and analysing the potential impact on the country's banking system of the restrictive measures imposed on Russian energy companies Rosneft and Lukoil.

The sanctions will not affect the operations of the refinery in Burgas, and Bulgaria has one month to decide how to proceed, Prime Minister Rosen Zhelyazkov said upon arriving to attend the European Council meeting in Brussels.