Kiril Petkov proposes EU confiscation of Russian assets for Black Sea damages

Former Prime Minister Kiril Petkov has proposed that the European Union implement a mechanism for the direct confiscation of Russian assets to compensate for economic damages caused by attacks on commercial vessels in the Black Sea. Petkov argued that Russian aggression must have a real cost and that frozen assets, currently estimated at approximately 210 billion euros in Europe, should be utilized for recovery and support rather than remaining merely frozen.

The proposal follows a series of incidents involving commercial ships in the Black Sea, including the sinking of the ALFA WATAN and an attack on the ABLE within Bulgaria’s exclusive economic zone in early October, as well as subsequent strikes near the Bulgarian coast. While Petkov suggests the patterns point toward Russian drones, the Russian embassy in Sofia has denied that the affected ships were targets of its armed forces.

Additionally, Petkov called for diplomatic measures, suggesting that Russian ambassadors in NATO Black Sea nations receive a final warning. He proposed that if further strikes occur in territorial waters, these diplomats should be declared persona non grata. He warned that delays increase the risk of further attacks and potential disruptions to oil supplies for the Burgas refinery.