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Finance Minister Expects No Price Hike after Lifting Derogation for Russian Oil from March 1, 2024

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The definitive lift of the derogation for Russian oil from March 1, 2024 should not affect the Bulgarian market, Finance Minister Assen Vassilev told journalists in Blagoevgrad.
The reason for his comment was the agreement between GERB-UDF, Continue the Change – Democratic Bulgaria" (CC-DB) and MRF to cancel the derogation for Russian oil in two steps. The first is the suspension of export quotas from January 1, and the second – from March 1 the final cancellation of the derogation, GERB-UDF floor leader Desislava Atanasova said at a joint statement in Parliament on Friday. 
According to Vassilev, there is no reason to raise fuel prices in the country at this stage.
“About two months ago, Parliament passed a law that should gradually reduce the use of Russian oil. The fact that exports have been banned from January 1 concerns Russian oil. If there is non-Russian oil, it can safely be exported,” the Finance Minister said, adding that this will simply accelerate the switch to non-Russian oil.
Vassilev also commented on the position of Lukoil Neftohim Burgas, sent to the media on Saturday, that the cancellation of the new quotas for the export of petroleum products from January 1, 2024, is tantamount to the cancellation of the derogation as early as December 2023. 
In his view, these are attempts to instil fear.

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