Bulgaria is exempt from the EU embargo on Russian oil until the end of 2024, Bulgarian Prime Minister Kiril Petkov told reporters in Brussels, CNN reports.

According to him, additional details about the release will be revealed in a couple of days.

Petkov noted that the release would give Bulgaria time to adapt its refinery to process other oil. He also said he was glad that the sixth round of EU sanctions on Russia would pass and Russia's financial flows would stop.