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FX.co ★ Bulgaria freezes South Stream again

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Forex Humor:::2014-08-20T14:15:00

Bulgaria freezes South Stream again

Ministry of Economy and Energy of the Republic of Bulgaria suspended the South Stream project until it meets the standards of the EU. According to Itar Tass, Bulgaria's Minister of Economy and Energy Vasil Shtonov ordered the Bulgarian Energy Holding to put a hold on all activities associated with the construction of the South Stream pipeline and to extend full cooperation to the European Commission in bringing the project into compliance with the EU standards.
Thus Bulgarian President Rosen Plevneliev said, “I support South Stream project construction according to European rules. But until the EC makes a decision, South Stream in Bulgaria will be frozen.”
On June 3, the European Commission asked Bulgaria to put something into cold storage the construction of the South Stream pipeline. The Bulgarian government agreed to halt the works in five days. However, the country’s Minister of Foreign Affairs Kristian Vigenin said Bulgaria supports the construction.
Vasil Shtonov also said that the South Stream project will be realized. "This project is important for both Bulgaria and Russia, and for the whole European community," he said.

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