Putin Suggests Bulgaria to Ask for Compensation for Lost South Stream Revenue

The South Stream project would've been easily accepted if the project was compliant with existing European legislation, said the President of Bulgaria on Tuesday. 

“The countries which show an interest in the implementation of South Stream did a lot of preparatory work and authorized the European Commission to hold talks with the Russian leadership so that a decision on the project can be reached. The decision is entirely in the hands of Russia and the European Union,” Rosen Plevneliev said on Tuesday, commenting on the Russian decision to shelve the South Stream project. 

Russia’s President Vladimir Putin blamed Bulgaria on Monday evening, saying that Moscow is taking a step back because of Bulgaria’s delay in granting permission for the pipeline. 

“I mean that we now need to start the construction of this pipeline in the Black Sea, but we cannot do that until we have Bulgaria’s permission. I think it’s clear to everyone that it would be ridiculous to start the construction in the sea, reach the Bulgarian shore and stop” Putin said on Monday, during a joint press conference with Turkey’s President Tayyip Erdogan.

Putin also spoke about the European Commission, adding that Sofia should ask for compensation from Brussels. 

“If Bulgaria is deprived of the opportunity to act as a sovereign nation, then they should at least demand money from the European Commission to compensate for their lost profits, because direct revenues to Bulgaria’s budget alone would have been no less than 400 million euro a year.”