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Bulgaria may stop the transit of Russian gas to Serbia via the Turkish Stream pipeline from the beginning of the new year if Gazprom fails to make payment in accordance with the US sanctions against Gazprombank.
This was stated by Bulgarian Energy Minister Vladimir Malinov, Ukrinform reported citing Novinite.
Malinov stressed that Bulgartransgaz will not be able to continue gas transportation without payments for December, which previously have always been made through Gazprombank, which is under sanctions.
Gazprombank owns the main capacity reserves of Turkish Stream in Bulgaria until 2039, and its payments are crucial for Bulgartransgaz’s operations.
However, new U.S. sanctions on the Russian bank have hampered financial transactions.
“These developments increase uncertainty about the future operation of the pipeline, which is an important transit route for Russian gas bypassing Ukraine and was created after the failure of the South Stream project,” the newspaper wrote.
According to Malinov, Gazprom should soon clarify the method of making payments.
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