Bulgaria must pay Russia 550 million euros for the cancellation of the construction of the nuclear power plant project

Bulgaria will have to pay almost 550 million euros in damages to Russia due to the canceled contract for the construction of the nuclear power plant. The state-owned company Atomstroyexport was supposed to build a nuclear power plant near the border with Romania. However, Bulgaria did not find enough investors.

Bulgaria's energy minister said in Sofia that the Bulgarian state-owned energy company NEK had received the decision of the International Arbitration Court in Paris and was obliged to contact the Russian state-owned company Atomstroyexport in the coming days. The project was planned to be implemented in Belene on the Danube near the border with Romania, and now the European Court of Justice has called on NEK to recover more than a billion euros in damages.

Bulgaria became a member of the EU in 2006 and abandoned the project in 2012 because it could not raise enough investors to finance the project. The government in Sofia came under pressure.