Economy of Russia

Bulgarian Energy Minister: All Gas Sources are on the Table, including Gazprom

"All possible sources of gas supplies are on the table, including Gazprom, but they are the last option". This was stated by Energy Minister Rosen Hristov on BNT.

"We haven't started reaching out to them yet because we're looking to exhaust all possible options. It's a last resort, but we haven't taken them off the options list."

Bulgargaz: We are still Talking with Gazprom

"We are not closing the Gazprom chapter as long as there are guarantees that there will be no risks for Bulgargaz if the conditions change."

This is what the Chairman of the Board of Directors of Bulgargaz, Ivan Topchiyski, told Nova today. The state company is a public supplier and is responsible for the security of receiving blue fuel in Bulgaria.

Bulgarian PM expects Azeri Gas Imports via the Interconnector with Greece in July

"It is possible that the Greek gas connection will start operating in July", said Prime Minister Kiril Petkov in response to a question from the Bulgarian National Radio.

"Everyone predicted September, October, November - no, it will open in July," the prime minister said today in Veliko Tarnovo.

Russia braces for economic upheaval as sanctions start to bite

At his garage in the south of Moscow, 35-year-old mechanic Ivan is starting to worry.    

With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.    

But Ivan sees storm clouds on the horizon.    

Deputy PM: Bulgaria will Request a Temporary Exemption from the Oil Embargo against Russia

"Purely technologically, Bulgaria can do without Russian oil, but this would significantly increase the cost of fuel. Therefore, if the European Commission allows exemptions [from the oil embargo], we will exercise our right to request such an exemption as well."

This was stated by Finance Minister Asen Vassilev in an interview with the weekly "Capital".

The Ruble reached a two-year High against the Dollar and the Euro

The Russian ruble reached a two-year high against the dollar and the euro today, mostly due to strict capital controls in the country and despite the announced next package of EU sanctions, Reuters reported, quoted by BTA.

In morning trading, the ruble rose 0.7 percent against the dollar to 68.62 rubles, its strongest position since June 2020.