18032 | 26 Oct. 2025 | 21:28
Global news this week comes from the White House. The United States has imposed sanctions on the Russian oil giants "Lukoil" and "Rosneft". The actions of the Donald Trump administration directly affect Bulgaria, as exactly 26 years and 2 weeks ago - on October 12, 1999, the government of Ivan Kostov sold 58% of the shares of the local refinery "Neftohim - Burgas" to the Russian corporate group "Lukoil".
In 2005, the Russian oil giant bought shares from minority shareholders, thus controlling over 90% of the company's capital. The state retains the so-called "golden share". At the end of the week, parliament adopted legislative changes according to which the sale of the refinery can only be implemented with the consent of the State Agency for National Security (DANS) and a government decision.
What are the legal options for resolving the problem with the sanctions? Minister of Justice Georgi Georgiev answers this and other questions in the show "Interview" on BNT. Ivo Nikodimov: What is the current legal status of Lukoil from a legal point of view?
Georgi Georgiev, Minister of Justice: Bulgarian company Lukoil, which owns the refinery and several other subsidiaries serving the accompanying business, is affected by the sanctions. They are covered by the sanctions because they have several levels of ownership in different foreign countries, and ultimately their actual owner is the Russian company Lukoil, which is already on the sanctions list. The new sanctions will take effect in one month unless negotiations between the US and Russia progress in the meantime.
- How is the company affected by these US sanctions and what exactly will happen?
- Typically, what happens is that the bank transactions that need to take place in order to buy fuel and pay for it won't be able to be processed by banks under threat of additional sanctions that are not in compliance with the imposed ones.
- So, does this mean that the fuel sold at gas stations can't be paid to the supplier?
- It's a bit more complicated, but the end result is that the refinery, the sanctioned companies won't be able to receive payments through different bank accounts. This is largely the effect of sanctions that are imposed by a foreign country. They are not directly implemented in the European Union, but through the influence on the SWIFT system, they actually achieve the effect we are talking about.
- Three months have passed, but what are the possible solutions?
- We were summoned to a meeting by the Prime Minister - representatives from various security services, ministerial departments - of economy, energy, justice, internal affairs, finance, of course. The Minister of Energy reports that there is security of supply in the market, so there is no reason to worry about the impending sanctions and the potential impact they will have by the end of the year. It is important for people to be calm about this. The state has a plan in several steps. налинии The first of these, without being an expert in energy, is the work of Minister Stankov, I quote his words. The first is screening and monitoring, checking the available quantities, i.e. what the Bulgarian state and trade chains have at their disposal. Secondly, the introduction of a very serious monitoring mechanism for what is happening and outlining specific steps, but this is a specialized matter that colleagues from the Ministry of Energy are working on, who assured us that there are no grounds for concern at this stage.
- Is it possible for us to request a postponement, as Germany does, so that we can prepare, or does this not apply to us? What about Hungary and Slovakia, since they do not have a sea outlet and there is no other way for them to supply fuel?
- Each case is specific. Europe is in this situation together, i.e. in line with the context. No country is alone on its own. And the decisions we seek are coordinated with our European partners. The Minister of Energy is within the formats that are working in the European Commission, on the committees for the supply of oil products. We clarify common strategies so that we can achieve the goals that have been set without directly affecting the citizens of the EU in a way that would hinder economic activities. Along with them, we are in intensive discussions with our American partners.
Personally, I am leading the discussions with the agency in the US government that imposes these sanctions so that we can coordinate our actions and behavior as a partner country.
- You returned this week from Paris, where a decision was made to remove several countries from the so-called grey list for money laundering: South Africa, Nigeria, Mozambique, and Burkina Faso. However, Bulgaria remains on the list for now. What else is expected of us to do?
- Two years ago we were put on this list as a country that is not addressing the issue of money laundering. Money laundering, financing of terrorism. These are the reasons due to which 3 years ago, during the time of Mr. Denkov's government, Bulgaria received a yellow card and was given one year to take urgent action. Unfortunately, not enough was done, which led to us receiving a red card and being included in this list two years ago. What does this mean for the people, in fact? It is extremely unprestigious, first of all. However, it repels investors in second place, because international large companies, world corporations that build factories, new capacities and so on, which in turn create jobs for citizens, when they see that the country is on the gray list for money laundering, they do not invest in such countries. In other words, we are talking about a slowdown in gross domestic product growth, a decrease in the chance for new investments and in addition, serious difficulties for Bulgarian businesses, because they are very export-oriented and including Bulgarian banks have problems operating in international systems, because this is like your credit rating in front of the bank being very low, because your income is inconsistent. That is the analogy. We have noticed this in the last nine months. We rolled up our sleeves. I want to thank the representatives of the people who have accepted all the changes that we have prepared at the Ministry of Justice. We have made fundamental changes to the Criminal Code in several directions, in order to receive this very serious recognition for the progress made at the end of the two-year period given to us. We have been involved in the last few months, catching up on almost everything that was left unfinished two years ago, and this is part of the price that Bulgaria pays for the political chaos, as out of 25 criteria, 22 have been recognized as already fulfilled. Personally, I have been participating in these international meetings in the last months, reporting on the progress and explaining that it is not an easy task to complete in 6 months what we have not managed to do in 2 or 3 years.
- There are still three criteria left.
- These are specific measures. The first of the measures has already been implemented by the Ministry of Justice. The text has been prepared. We have spoken with the Members of Parliament. It has been a matter of a few weeks for this legal change to take effect. However, what is being observed is how the new legislation that we have adopted over these months is being applied during this necessary time. The plan is as follows. In January, we will report on progress on these remaining three criteria, after which we request the initiation of the procedure for removing us from the list, which requires on-site inspections and several more months, i.e. in the middle of next year Bulgaria should be removed from the grey list. This is an achievement that we hope we will succeed in, because it is a shame. A country in the European Union, a member of the Eurozone, has been neglecting its obligations to prevent money laundering for years. This is a threat not only to Bulgaria but also to foreign investors.
- While you were in Paris, the former deputy district prosecutor of Sofia, Ivo Iliev, was severely beaten with a hammer. You have assigned security for Mr. Iliev himself, who is in a hospital, and for his family, as well as for another magistrate who, according to your official statement, worked together with him. Why is this security necessary for the second magistrate?
- We are providing security for not one, but two magistrates. This is a confidential matter. The Ministry of Justice has a specialized unit that is responsible for the protection of the judicial power, not only the courtrooms, but also in cases where the magistrates need protection. This is an expression of dedication, support and care from the Bulgarian state for Bulgarian magistrates. We have over 4500 judges, prosecutors and investigators. What happened is unacceptable. It is an attack on our understanding of statehood. The Ministry of Interior is working on different versions. I hope and expect them to make progress and not to cover up this case. I have the assurance of the interior minister that serious efforts are being made in this direction. It is an unacceptable attack. I talk to the spouse of the magistrate every day. In regards to other magistrates that we protect - when we have information, we follow a very strict protocol. No Bulgarian magistrate, judge, prosecutor or investigator should fear for their safety or that of their family.
- On Friday, you were meeting with the Notarial Chamber. You are seeking punishment for notaries who have been involved in real estate fraud transactions. How many notaries do you want punished and why?
- After an unprecedented number of inspections that I ordered - over 80 inspections of notaries, I have requested 8 disciplinary penalties, with 3 cases involving revocation of rights, which is the most severe punishment that I can request the Notarial Chamber to impose. This is part of the strengthened control we exercise over notarial activities because the state has granted notaries some of its powers. The majority of Bulgarian notaries are honest, conscientious and do their job well. However, there are also those who do not take this precaution. We have cases where, for example, one day someone knocks on your door and you are presented with a notary deed based on the testimony of three witnesses whom you have never seen before.
- A notary deed?
- Exactly. And it turns out that the property is no longer yours. We have such a case on a major boulevard in central Sofia, a property of over half an acre. The owner's daughter finds out that the property is no longer theirs. They had a building, the building was demolished, and so on. In Balchik, there is another case. In Sofia, there is another desirable property, a third such case. Whether they are part of the property mafia or not, will be established as all materials from my investigations are being sent to the prosecutor's office. But what is important and a sign of gratitude on one hand is that we are conducting these investigations with the Chamber, and on the other hand it is a clear signal to everyone to follow the rules and ensure the safety of citizens' basic right - the right to property. That is why notaries are respected. They are respected by me as a minister as well. We are helping each other a lot in the changes we want to make, in order to tighten the regulations, to clearly define their powers and the necessary care that is provided by them. You all know the cases. One of the other punished by me, for whom I want to have his rights to work as a notary taken away, has confessed with a power of attorney for such transactions that the properties of an elderly person in Kazanlak have been plundered. He was left with nothing on the basis of the power of attorney, with which such transactions should not be confessed at all. A criminal case is ongoing, there have been arrests, but in the meantime, years go by in legal battles. This property mafia, which we declared war on, is not a homogenous mass. We are talking about different organized groups, very serious ones, with serious legal knowledge, and we are slowly uncovering their various schemes, attempting to do so, because at the moment this could sound like a government initiative, an enthusiasm, which could be cut off. No, in order for it to become policy, we are changing the laws, just like we did for arbitration. After the case with the 90-year-old woman, thank God, her apartment was saved with a decision of the Supreme Court, but we have changed things so that such cases do not occur in the future. What is important, however, is for guilds like bailiffs, notaries, and syndicates to work in coordination, clearly acknowledging the authority and responsibility of each of us. And they should know that there will be no escape for them in case of violations. Not because the minister is fixated on it, but because that is the essence of law - to protect the weaker and for the one who has the authority to violate their rights to pay a heavy price for it.
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