OFAC Sanctions Bulgarian Officials, Entities for Corruption
The Office of Foreign Assets Control designated five current or former Bulgarian government officials for "extensive involvement in corruption" in Bulgaria, according to a Feb. 10 press release. OFAC also sanctioned five entities controlled by two of the targeted officials in an action that OFAC said builds on the office's 2021 designations of six Bulgarians and 64 entities (see 2106020026).
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Rumen Stoyanov Ovcharov, a former member of parliament, repeatedly engaged in corrupt energy contracts with Russian energy companies and received bribes and other kickbacks in exchange for contracts for Russian gas and nuclear fuel, OFAC said. Aleksandar Hristov Nikolov and Ivan Kirov Genov, former CEOs of Kozloduy Nuclear Power Plant, "coordinated personal commissions" by diverting service contracts for KNPP to their own business interests, OFAC said.
Nikolay Simeonov Malinov is a former member of parliament and now leads the pro-Russian lobby group Russophiles National Movement. He was arrested for alleged pro-Russian espionage but bribed a judge to allow him to travel to Russia. Vladislav Ivanov Goranov, also a former member of parliament and former finance minister, allegedly participated in a corruption scheme that channeled bribes to other officials in exchange for favorable legislation for the gambling industry.
OFAC also sanctioned several entities owned or controlled by Malinov or Goranov.
“The United States supports our NATO ally Bulgaria in its fight against both entrenched corruption and Russian influence, which undermine democratic institutions,” said Brian Nelson, Treasury undersecretary for terrorism and financial intelligence. “The behavior exposed today spans political parties and administrations, highlighting the urgent need to dismantle the networks that have for years perpetuated illicit activities, especially in the energy sector. Corruption robs the Bulgarian people of hundreds of millions of dollars and hinders investment and economic growth in the country.”