The Council of Ministers appointed the head of the National Revenue Agency Rumen Spetsov as a special manager of “Lukoil Neftochim Burgas“. The decision came against the backdrop of increased pressure on the company after the sanctions imposed by the US and concerns about the interruption of bank payments.
The MP from “BSP - United Left“ Iliyan Yonchev commented that the choice was coordinated with international partners, and Great Britain has already granted a derogation for the work of “Lukoil“, which allows the company's activities to continue without interruption.
Yonchev said that he learned about Spetsov's nomination during the official briefing of the ministers from the cabinet's economic team.
“In all likelihood, the decision was discussed in the Joint Management Council. More importantly, it has been agreed with the partners,“ the MP specified.
According to him, the key factor is the fact that just hours ago Great Britain lifted its sanctions against “Lukoil“, allowing the company to work normally with banks again.
Concerns about interrupted payments
In previous statements, the Minister of Justice had warned that Bulgarian banks had begun to notify “Lukoil“ that they would limit work with them due to the sanctions – a move that could have blocked payments to gas stations, suppliers and the state.
Yonchev thanked the cabinet and parliament for the “quick actions“ overcoming the presidential veto, urgent convening of the Security Council and an expedited meeting of the Council of Ministers to appoint a special governor.
According to Yonchev, the choice of Spetsov was proposed and approved by international partners:
„It is no coincidence that the Minister of Justice said that the candidacy was agreed upon. The British have already given their signal – if they did not like the name and the competencies, there would be no derogation.“
He added that the head of the National Revenue Agency knows the economic model of the oil market and financial flows very well, since the revenue agency controls VAT and excise duties on fuels – main source of budget revenue.
Disputes over the powers of the special manager
Asked whether the lack of judicial control over the acts of the special manager was a concern, Yonchev replied that the law provides sufficient restrictions – including mandatory assessments and permission from the Council of Ministers for any disposal of assets.
The special manager will report to the parliamentary committee on economics every month.
Assen Vassilev said earlier that the law requires a manager with experience in crude oil supplies and refining processes. However, Yonchev replied that the regulatory text refers to “economic activities related to oil and oil products“, and the NRA has the full picture of these processes.
Spetsov was already at the head of the NRA in 2021-2022, appointed by the then Finance Minister Assen Vassilev. After the dissolution of the regular cabinet, he left the system, but was later returned as head of the revenue agency.
The dispute over “Lukoil“ began after the company was included in the US sanctions list, which led to concerns about blocking operations and the fuel market in our country.
The government drafted urgent amendments to the Energy Law to be able to appoint a special manager not only in the refinery, but also in related logistics and distribution companies.
The president imposed a veto, but the parliament overcame it in a short time to avoid the risk of interruption of fuel supplies.
Bulgaria is one of the main fuel producers in the region, and the refinery in Burgas is the largest in the Balkans. A delay or suspension of its work would lead to a sharp jump in prices.