Emilia Milcheva's comment:
If anyone wonders why GERB leader Boyko Borisov is playing belotcheta and not poker, they should read the Wall Street Journal (WSJ) article about Gentry Beach, a college friend of Donald Trump Jr. It makes it clear how a three-time prime minister is offering energy assets as a street vendor in an attempt to whitewash close allies sanctioned for corruption under the "Magnitsky". And there are none closer than his management partner Delyan Peevski and former Finance Minister Vladislav Goranov.
One of the most authoritative publications in the US is known for its good journalistic standards and a pronounced conservative and pro-business orientation, close to the Republican Party. In the essay about Beach, described as a man who uses the name of the firstborn son of the US president in attempts to negotiate deals worth billions, there is also a passage about Bulgaria.
The college friend announced that Trump Jr. would be in Bulgaria in April (which happened, b.a.). Borisov saw this as an opportunity, by presenting energy assets potentially interesting to American investors, to secure an audience with President Trump, whom he met with in 2019. Among other things, Borisov is seeking relief from US sanctions under the "Magnitsky" for his close allies, writes WSJ. The end result of the "gas" Borisov's presentation at the luncheon organized by Trump Jr.'s hosts - the crypto company ΝΕΧΟ, is that the president's son was puzzled and made it clear that he was not interested.
When it smells of gas and oil…
Back in May of this year, again in the WSJ, the first information about American interest in the Bulgarian pipeline of "Turkish Stream", known in Bulgaria as "Balkan Stream" and built as an extension of the gas transmission infrastructure of "Bulgartransgaz" appeared. According to it, the American hedge fund Elliott Investment Management is negotiating to purchase a stake in the pipeline. The only other details were that the fund, managed by billionaire founder Paul Singer, was also considering acquiring access to a network of data centers, data cables and other infrastructure assets.
Energy is a strategic sector and control over key assets means influence over energy and therefore national security. The pipeline through Turkey and Bulgaria to Serbia, Slovakia and Hungary remained the only operating route for the transit of Russian gas to Europe.
The private "Lukoil Neftokhim Burgas", the largest refinery in the Balkans, is a symbol of Russia's economic presence in Bulgaria. After sanctions against Russia for its aggression in Ukraine and the embargo on Russian oil, a process of diversification of supplies began and the refinery now works mainly with non-Russian crude oil. Speculation that "Neftohim" is being sold, have been going on since the fall of 2023.
At the moment, an energy deal of this magnitude is a balance between interests, but also geopolitical pressure.
A humiliating barter
At first glance, there is nothing wrong with the leader of the largest party, with whose mandate the government is governed, and a three-time prime minister lobbying for foreign investors.
But the sentence, which contains "close allies" and "Magnitsky", directly refers to Peevski - and turns history 180 degrees. Coaxing state assets for 3 billion leva in exchange for exemption from "Magnitsky" sanctions is a shameful barter in the hope that someone's lawlessness can be laundered against objects of national security. If Peevski is so nice and helpful to him, Borisov can only offer the "rabbit hole" is in Bankya - the house that he had neglected to declare as property in 2019.
What the WSJ reported is also humiliating for Peevski, as it shows that he has exhausted his opportunities for influence through lobbyists and lawyers and has turned for help to the one who cannot refuse him. He would hardly receive an invitation to meet with representatives of Western democracies, no matter what demonstrations of leadership he shows on his native soil. And Borisov desperately needs foreign policy indulgence for his partner in power.
During the transition, other politicians also tried to trade objects of national security. In 1995-1996, Andrey Lukanov and "Multigroup" tried to gain control over energy assets, and the ultimate goal was for the Russian "Gazprom" to gain access to Bulgaria's strategic gas infrastructure. They failed.
Emergency washing
The gas pipelines are on the prohibited list and can only be sold with a decision of the parliament. And almost the entire capacity of "Turkish Stream" - at the entrance and exit, is reserved by "Gazprom". Regarding the sale of "Lukoil", although the deal is with a private company, the state has the opportunity to influence the choice of buyer through the Interdepartmental Council for Screening Foreign Investments.
Prime Minister Rosen Zhelyazkov reminded of this opportunity at the beginning of the year, when Peevski proposed that the state buy the refinery for 3 billion leva. Thanks to the screening law, the state has the right to check foreign investors and how the deal will affect national security, critical infrastructure and energy supplies. Russian, Belarusian and other dubious capitals are not allowed.
Because of WSJ, Borisov included a crisis PR with two main theses: yes, he talked about the gas pipeline and the sanctions under "Magnitsky", not about "Neftokhim", nor about Peevski. He did it because the Russian gas deal would soon be over. The confessions were made to his old friend and later political opponent - former TV presenter Nikolay Barekov, in front of his house in Bankya.
Recently at the UN, President Trump called on Europe to stop buying energy raw materials from Russia. And in an interview with Politico, Energy Minister Zhecho Stankov assured that Bulgaria supports the EU plan to stop importing Russian gas by the end of 2027.
The polite interview revealed that Borisov was promoting the gas pipeline "to everyone", that Trump had allowed him to build the "Turkish Stream" through Bulgaria and that the pipe "is already generating 900 million a year in profit" (in fact, the revenue, not the profit, from January 1, 2022 to the end of March 2024 is 1.3 billion leva). Nothing important happened, since Trump Jr. was not authorized by his father.
Borisov claims that it was not about Peevski, but that he was only talking about former Finance Minister Vladislav Goranov. "The man who brought us into the banking union and the eurozone was brought in according to Magnitsky," says Borisov. However, in April, after the US lifted the "Magnitsky" sanctions against Antal Rogan - Chief of Staff of Hungarian Prime Minister Viktor Orban, Borisov said that "a similar process is underway" for Peevski and Goranov, accused "of denunciations". It is known that both of them are challenging the sanctions.
The time will come for the truth to come out for them, as it did for Hungary, Borisov said 6 months ago. Should we trust him that ten days after this statement, at the meeting with Donald Trump Jr. he did not talk about Peevski, the partner to whom the stability of the ruling party is due?
In a YouTube comment on the topic, which never found a response in the mainstream media, analyst Yasen Guev drew attention to the lack of US ambassadors in Bulgaria - and Bulgaria in the US. The embassies in both countries are run by acting ambassadors. "It is not clear who the Bulgarian government intends to propose" But the main job of this ambassador will be to work on lifting the "Magnitsky" sanctions, he predicts.
Borisov went to lunch with Donald Trump Jr. with Denitsa Zheleva, who translated for him - until June 19 this year, she was the chief of staff of Prime Minister Rosen Zhelyazkov, and she held this post during Borisov's third term. Does this mean that Borisov tried to negotiate the "barter" with the knowledge of the Prime Minister or did it on his own. Whatever the answer, it is not harmless.