• Number of the week: 10

    When Bulgaria introduced a 10 euros per MW/hour “punitive” tax on Russian natural gas transit in October, neighbouring Serbia and fellow EU member Hungary cried foul.

    The two Moscow-friendly governments called this a “hostile” move which jeopardises their energy security ahead of the winter heating season.

    The tax is equal to roughly 20 percent of Europe’s benchmark gas prices, and is expected to bring some 1.1 billion euros to Bulgaria this season. The move could also reduce profits on Russian-based companies, whose tax revenues fuel Moscow’s war machine in Ukraine.

    This article is part of the "Energy security risks remain ahead of winter" edition
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