The Bulgarian version of the Magnitsky Act is in working form

published on 5/27/22 5:06 PM

An interdepartmental group has been set up, headed by the Ministry of Justice, to draft a law on measures to prevent and protect national security from encroachments threatening the country's economic and financial security. Members of the new body are experts from the Ministry of Finance, Foreign Affairs, the Bulgarian National Bank, the National Revenue Agency and academics.

Although the texts are still in working versions, the project, which has gained popularity as the Bulgarian version of the Magnitsky Act, has drawn sharp criticism from coalition partners of We Continue the Change party and the opposition in parliament, who have described the texts as "fascist".

In response, Deputy Prime Minister and Minister of Finance Assen Vassilev commented that the texts aim to protect state institutions and companies in an adequate way, and the Ministry of Justice is the only one that can comply with all national and international acts so as to find the most appropriate way to fill this gap in Bulgarian legislation.

For its part, the Ministry of Justice commented that it could not support the draft of the so-called "Bulgarian" Magnitsky Act because it is in conflict with the Bulgarian Constitution and European legislation.

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The Bulgarian version of the Magnitsky Act is in working form

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