Saturday 24th of August 2019, 18:27 CET
Russia expands relations with Bulgaria
September 8, 2003
RFE/RL Russia

Posted by HW on August 24, 2019

Cooperation
Speaking to journalists in Sochi following talks with Bulgarian President Georgii Parvanov, President Putin said that, after a decade of cool relations, the two countries have agreed to expand trade relations and economic cooperation, strana.ru reported 7 September.

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Russia has agreed to help Bulgaria modernize a nuclear-power station and to upgrade its Soviet-produced MiG fighter jets. Bilateral trade is expected to reach $1.4 billion this year, while direct Russian investments in Bulgaria will reach $500 million, including investment in the Western Siberia-Southern Europe strategic oil pipeline.

Oil pipeline
LUKoil head Vagit Alekperov, who participated in the talks and whose company will be the operator of the projected pipeline, told strana.ru that the pipeline will run from Western Siberian to Novorossiisk, then across the Black Sea to the Bulgarian and Greek terminals of Burgas and Alexandroupoli. From these ports, tankers will ship the oil to the east coast of the United States.
 
Countries:
 
Places:
Sochi (Russia) City
 
Persons:
Parvanov, Georgi (M) Politician Bulgaria
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