Send to Kindle
We knew it was coming.
More than a year ago Moscow warned that if the contract for the construction of Belene nuclear plant is not signed by the set deadline, Bulgaria will be sued and obliged to pay EUR 1 B in damages.
This is the breaking news that Russian media broke on Tuesday, with both sides fully aware of what this step may lead to.
Russia, for whom this project is very important from a political rather than an economic point of view, is very angry as it may have been inclined to agree to yet another delay. For Moscow, it was of crucial importance to build its first nuclear power plant in the European Union, which it then could show to all its clients in Europe.
Bulgaria finds consolation in the fact that it takes a long time before the International Court of Arbitration comes up with a ruling. Under the law, this should take no more than a year, but actually cases drag on for years.
It is still unclear how things will turn out as Russia's claims may prove to be unfounded.
Potentially, however, this could become the most expensive arbitration proceedings in Bulgaria's history.
Archaeological excavations in the Kaleto district of the Bulgarian town of Lom, which concluded recently, uncovered significant Roman military remains dating back to the 1st century AD
The question of whether Bulgaria can fulfill the criteria for joining the Eurozone was discussed by several economic experts
Bulgaria is falling behind in its utilization of European Union funds
Three new regions in Bulgaria have declared a flu epidemic following the increased spread of the virus
Russian President Vladimir Putin sent his congratulations to U.S. President-elect Donald Trump on the eve of his second term inauguration
The weather forecast for January 21 in Bulgaria includes significant cloud cover, which is expected to ease by the evening
On December 11, the Council of Ministers of Bulgaria approved the draft state budget for 2025
Bulgaria has made little progress in implementing the recommendations of the Organization for Economic Cooperation and Development (OECD), despite its ambition to join the OECD and its stated intention to align with its corporate governance guidelines.
Adelheid Wolfl's commentary in the Austrian daily Der Standard discusses the implications of the upcoming US elections for Bulgari
With less than two weeks until a pivotal election, the American public is eager for clear policy solutions from both former President Donald Trump and Vice President Kamala Harris aimed at rebuilding the economy and enhancing national security
In an interview with Al Jazeera, David Owen says that if elected, US presidential candidate Donald Trump would likely work to stop the war, which he predicts will end with Russia taking some of Ukraine’s lands.
In today's digital landscape, influencers are becoming the new celebrities, amassing millions of followers and gradually overshadowing traditional television as the preferred source of entertainment
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability
