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Balkan Stream pipeline exempted from US sanctions on Gazprombank transactions until March 2025

Bulgarian Energy Minister cites US Treasury Department in parliamentary response
Photo: Archive

The Balkan Stream gas pipeline will not be subject to US sanctions for transactions with Russia's Gazprombank. This was revealed in a written answer to a parliamentary question to Energy Minister Zhecho Stankov.

On December 23, 2024, the Ministry of Foreign Affairs informed the Energy Ministry that, "according to information from the Office of Foreign Assets Control of the US Treasury Department, the Bulgartransgaz capacity expansion pipeline from the Bulgarian-Turkish border to the Bulgarian-Serbian border will not be subject to US sanctions for transactions with Gazprombank until March 20, 2025."

In his response, Stankov also stated that in 2024, grid operator Bulgartransgaz received €280 million in revenue from Gazprom Export's use of the Bulgarian company's gas transmission network, BGNES reports.

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