New US sanctions might affect Bulgartransgaz

17.07.2020 Source: SeeNews; FFBH

Earlier this week US Secretary of, State Mike Pompeo, revealed that the State Department is updating the public guidance for Countering America's Adversaries Through Sanctions Act (CAATSA) to include the second line of TurkStream, a.k.a. BalkanStream. The latter is an extension of TurkStream is a project of Russia's Gazprom) and its transit pipeline on Bulgarian territory intended to carry gas from the border with Turkey to the border with Serbia. Please recall that last year, Bulgartransgaz signed a EUR 1.1bn contract with Saudi-led consortium Arkad for its construction. Deputy Prime Minister Tomislav Donchev commented that it is certain there will be sanctions for the companies, building TurkStream, however it is not certain they will be for all of them. Further details of the new sanctions are to be announced and that will provide more clarity on whether Bulgaria will be affected.