In Bulgaria, the number of companies with Russian participation increased sharply by the end of 2024. This was reported by Euractiv, citing data from the Bulgarian Commercial Register.
In September 2024, there were 12,000 companies with Russian participation registered in Bulgaria, and by the end of the year, this number increased by 1,000.
The authorities in Sofia allowed the registration of over 7,300 companies fully owned by Russia, and another 5,700 firms in which Russian citizens or companies hold 40% of the shares.
However, there is no official data on the number of Bulgarian companies in which Russian citizens hold a minority stake (less than 40%).
Martin Dimitrov, a member of the pro-European coalition "We Continue the Change" – "Democratic Bulgaria," stated that the intelligence services should assess "the activities of these companies and Russia's interests in Bulgaria."
Following Russia's invasion of Ukraine in 2022, Bulgaria, which supported the expansion of sanctions against Russia, was declared a "hostile" country by Russia.
At the same time, an investigation by Euractiv reveals that there are no frozen Russian assets in Bulgaria.
The largest company operating in Bulgaria is Russian Lukoil. The oil giant, which is currently negotiating the sale of its subsidiary in Bulgaria, earned €7.5 billion last year through its network of refineries and gas stations, which is equivalent to 7% of Bulgaria's GDP.
