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In 2021, Bulgarian exports to Russia were $592 million with medication being the top product. Russian exports were $2.78 billion with natural gas being the main product. Between 1996 and 2021 Bulgarian exports have risen by an average of 0.71% p.a. whereas Russian exports rose by 1.39% p.a. on average. [36]
On 26 April, Russia announced it would cut off natural gas exports to Poland and Bulgaria because of their refusal to pay in rubles. On 21 May, Russia halted all of its gas exports to Finland for the same reason. [38] Natural gas prices are expected to remain extremely volatile in the current context of market uncertainty.
On 5 December 2023, Bulgaria announced that exports of Russian processed oil will cease by 1 January 2024. [11] The refinery will need an investment of €500m to reconfigure to process lighter grade crude oil. Bulgaria has announced that imports of Russian crude will cease on 1 March 2024, earlier than the EU concession date. [12] [a]
Bulgaria supports sanctions on Russia as a means to halting its invasion of Ukraine, but will likely seek an exception on banning Russian natural gas and oil imports if such a proposal is put ...
Russian energy firm Gazprom said on Wednesday it had halted gas supplies to Bulgaria and Poland for failing to pay for gas in roubles, the Kremlin's toughest retaliation yet to international ...
In 2005, Bulgaria's exports totaled US$11.7 billion and its imports totaled US$15.9 billion, incurring a trade deficit of US$4.2 billion. The trade deficit is especially severe with Russia, where markets for Bulgarian goods have shrunk drastically in the early 2000s.
The Russian Embassy in Sofia reacted angrily in a Facebook post to the expulsions, calling the move a “rude, blatant action by Bulgarian authorities." Bulgaria expels a Russian and 2 Belarusian ...
As of August 2023, Bulgaria imports 3 million barrels per month of Russian-produced oil and is the fourth-largest importer of Russian-produced oil in the world. [25] Only India, China and Turkey import more Russian-produced oil than Bulgaria. [25] Most oil products are consumed by transport. [26]