Russia’s unprovoked invasion of Ukraine in February 2022 had unpredictable repercussions in the global energy market. Although EU countries significantly decreased reliance on Russian oil and, to some extent, Russian gas, the Kremlin still maintains limited influence in some EU countries, including Bulgaria. Since the EU imposed an energy sanctions package on Russia, Bulgaria was granted a two-year exemption from Europe’s embargo on Russian oil until December 2024. Continue reading →