EUROZONE AT LAST: Bulgaria Secures Full Membership, Euro Becomes Official Currency in 2026
Bulgaria has officially joined the eurozone and will adopt the euro as its national currency on January 1, 2026
The TurkStream gas pipeline, which transits through Bulgaria on its way to the Western Balkans and Central Europe, has been excluded from the list of infrastructure through which Russian gas deliveries to the European Union would be banned. This clarification came from European Commission spokesperson Anna-Kaisa Itkonen following the latest proposals by the EC regarding the phasing out of Russian fossil fuel imports.
On Tuesday, the Commission put forward a legislative package that foresees a full termination of Russian natural gas imports into the EU by the end of 2027. Part of the plan also involves banning new long-term contracts with Russian suppliers for liquefied natural gas (LNG) services starting January 1, 2028.
However, Itkonen explained that the customs legislation underpinning this proposal does not apply to countries outside the European Union. In that context, she emphasized that Bulgarian customs authorities cannot legally block the transit of Russian gas through the TurkStream pipeline when the destination is a non-EU country, such as Serbia.
When asked whether the regulation affects Russian gas transported to Hungary via the same pipeline, Itkonen underlined that the EU legislation in question remains valid and enforceable within the bloc. Those familiar with the matter interpret this to mean that Hungary, as an EU member state, would no longer be eligible to receive Russian gas through TurkStream once the ban comes into force, unlike neighboring Serbia which lies outside the EU jurisdiction.
The clarification indicates a legal and geographical distinction in how the proposed embargo would be implemented, potentially allowing the pipeline to remain operational in part, depending on the recipient country’s EU membership status.
For Bulgaria, the European Commission’s clarification means that Russian gas can continue to transit through the TurkStream pipeline across its territory to non-EU countries like Serbia, even under the proposed ban. While Bulgaria would not be allowed to import Russian gas for its own needs under the new rules, the country retains its role as a key transit hub, maintaining transit revenues and regional energy significance despite the broader shift away from Russian energy in the EU.
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