Bulgarian president vetoes draft bill on new manager for Lukoil refinery

SOFIA. Nov 12 (Interfax) - Bulgarian President Rumen Radev has objected to proposals by members of parliaments on the appointment of a special commercial manager for the Lukoil oil refinery in Burgas, Bulgarian National Radio (BNR) reported on Wednesday.

BNR said that Radev had justified his objection by saying that the proposals by members of parliament to amend the law on the administrative regulation of economic activity related to oil and petroleum products would disrupt law enforcement in the country, contradict key European laws and put public funds at risk.

The president said that the amendments would also introduce a series of new provisions - for example, the special commercial manager would be able to manage shares and stakes in affected enterprises without obstacles and sell the property of these enterprises, while the agreements and acts of state bodies signed by the manager would be outside administrative and judicial control.

Radev said that the amendments to this law would, in practice, entail the indirect nationalization of the assets of affected enterprises and would make it possible for them to be transferred to an unknown circle of third parties, greatly increasing the likelihood of abuses and misconduct.

The deputies of the Bulgarian National Assembly previously approved amendments to the law on the administrative regulation of economic activity related to oil and petroleum products in their first reading. These amendments expand the powers of the special manager of Lukoil's oil refinery in Bulgaria.