Bulgaria: US imposes sanctions on 3 Bulgarians with 64 companies

The rule of law is at the heart of democratic processes in a state. In our relations with our partners and allies, we have undoubtedly shared our conviction that the fight against corruption in all its forms should be our unconditional priority. This is stated in the official position of the Bulgarian Ministry of Foreign Affairs on the sanctions announced by the US State Department under the Magnitsky Act against Bulgarian individuals and legal entities.

“As strategic partners, Bulgaria and the United States hold an effective Strategic Dialogue. In this sense, and based on established traditions of cooperation over the years, we are confident that Sofia and Washington remain ready for dialogue on all topics of common interest. “the statement said.

On Wednesday, the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned three Bulgarian individuals for their wide-ranging roles in corruption in Bulgaria, as well as their networks of 64 entities. The administration believes that corruption degrades the rule of law, weakens economies and economic growth, undermines democratic institutions, perpetuates conflict and deprives innocent civilians of their basic human rights, and today’s action – the single largest act aimed at corruption to date – Demonstrates the Department of the Treasury’s ongoing effort to hold accountable those involved in corruption. The US government will continue to impose tangible and significant consequences on those involved in corruption and working to protect the global financial system from abuse.

“The United States stands with all Bulgarians trying to eradicate corruption by promoting responsibility for corrupt officials who undermine Bulgaria’s economic functions and democratic institutions,” said Andrea M. Gacki, Director of the Office of Foreign Assets Control. “Not only does corruption deprive citizens of their resources, but it can erode institutions that seek to protect them. This definition under the global sanctions program Magnitsky shows that we are committed to fighting corruption wherever it is. “

The move targets Vassil Kroumov Boykov, a prominent Bulgarian businessman and oligarch; Delyan Slavchev Peevski, a former member of parliament; Ilko Dimitrov Zhelyazkov, former Deputy Chief of the Bulgarian State Agency for Technical Operations, who was appointed to the National Bureau for the Control of Special Intelligence Collection Equipment; and companies owned or controlled by the respective individuals.

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