Bulgaria and neighbor Greece have failed to resolve a dispute over a $1.3 billion pipeline deal to transport Russian oil. The stalled venture was discussed at a joint cabinet meeting held for the first time by the two countries Tuesday to discuss proposals for common defense, economy and energy projects.
The proposed 175-mile (282-kilometer) pipeline was to bring Russian oil brought by tanker through Bulgaria to the Greek port of Alexandroupolis, bypassing Turkey’s busy Bosporus Straits. Bulgarian Prime Minister Boiko Borisov scrapped the venture, citing environmental concerns. But Greek Prime Minister George Papandreou on Tuesday said the venture remains a priority.