Bulgaria quits Burgas-Alexandroupolis pipeline

Bulgaria’s Finance Minister says his country is pulling out of a pipeline deal to carry Russian oil through his country to Greece.

Simeon Dyankov said Wednesday, December 6, the government has decided to withdraw from the project because it cannot be executed under the financial conditions of the 2007 agreement.

The proposed 175-mile (282-kilometer) pipeline was to bring Russian oil – brought by tanker – through Bulgaria to Alexandroupolis in northeastern Greece, bypassing Turkey’s congested Bosporus Straits.

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