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Rosen Plevneliev: Nationalization of Lukoil could cost Bulgaria billions

Former president insists on transparency with the US and a strategic new owner who would work with non-Russian oil

Nov 9, 2025 19:56 345

Rosen Plevneliev: Nationalization of Lukoil could cost Bulgaria billions    - 1

Former president Rosen Plevneliev told BTV that nationalization of "Lukoil" would be "a very serious mistake" and could lead to billions in sanctions. According to him, a sale can only be carried out with the refinery's consent, since under a sanctions regime there is no real buyer, and unilateral actions would lead to international cases against Bulgaria, News.bg reports.

Plevneliev called for the process to be fully transparent and coordinated with the US, emphasizing that the Ministry of Foreign Affairs must actively participate in controlling the refinery.

In his words, "Lukoil" must switch to strategic owners who would work with non-Russian oil. The special administrator is tasked with restoring exports, changing the company's financial flows and ensuring that funds do not reach the Russian military machine. Plevneliev described the appointment of a special administrator as a "good solution", provided that it works sensibly and transparently.

Regarding the 2026 Budget, he called on the government to achieve three goals: exiting the gray list, joining the OECD and making the most of entering the eurozone.

Plevneliev described the increase in the "dividend" tax as inappropriate and insisted on optimizing the state administration. According to him, it is unacceptable for public sector salaries to exceed those in the private sector and the state must carry out structural reforms for greater efficiency.

He also spoke out against increasing the budget of the judicial system, questioning the need for more funds.

Plevneliev outlined two scenarios for Bulgaria for 2026 - democratic and populist. The democratic scenario envisages the coalition remaining stable at least until the presidential elections and initiating reforms in dialogue with business.