No disruptions or price increases are expected on Bulgaria’s fuel market following the US sanctions imposed on Russian oil companies Rosneft and Lukoil, Bulgarian Petroleum and Gas Association Chairman Svetoslav Benchev told BTA.

"For now, I don’t expect anything to happen. There are sufficient fuel quantities on the market, supplies are secured, and gas stations are operating normally", Svetoslav Benchev went on to say. He clarified that the sanctions imposed by the United States are territorially limited and affect American companies and citizens, without having direct effect on the territories of other countries, including Bulgaria.

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Svetoslav Benchev added that although oil prices rose by more than 3% on the first day following the announcement of the sanctions, this movement is short-term, and no sustained price increase is expected. “There are no grounds for panic or price speculation”, said Svetoslav Benchev.

Speaking to BNR, Svtoslav Benchev added: “If there is any potential problem, it would concern the supply of crude oil to the refinery, but we don’t know yet if it will happen. We’ll see, but the quantities are secured until the New Year''.

Published and translated by Kostadin Atanasov

Photo: BTA