Bulgaria will seek an exemption from the European Union's proposed oil embargo against Russia if such delays are allowed, Bulgarian Deputy Prime Minister Assen Vassilev said in an interview with the financial newspaper Capital.

The EU has proposed a phased embargo on Russian oil imports as part of a new round of sanctions against Moscow.

EU officials did not reach an agreement on the embargo on Wednesday, but they may move closer to an agreement at a meeting on Thursday, an official familiar with the talks told Reuters.

Bulgaria's only oil refinery, Neftochim Burgas, owned by Russia's Lukoil, is the main fuel supplier in the Balkan country, the poorest in the EM.

Assen Vassilev has previously stated that the refinery already processes 50% of Russian oil and 50% of non-Russian oil and will eventually be able to completely phase out Russian oil if required.

"Bulgaria, technologically, can do without Russian crude oil, but that would push up fuel prices significantly," he told financial newspaper Capital in an interview, published on Wednesday.

"So, if the European Commission considers exemptions, we would like to take advantage of such exemptions as it will be in the best interest of the Bulgarian consumers, of the Bulgarian hauliers and the Bulgarian people as a whole," he said.

The measures proposed by the European Commission include a phase-out of supplies of Russian crude oil for six months and oil products by the end of 2022.

Slovakia, Hungary and the Czech Republic are already seeking such exemptions. An EU source told Reuters on Wednesday that Slovakia and Hungary will be able to continue buying Russian crude until the end of 2023 under existing contracts.

Last week, Russia cut off gas supplies to Bulgaria, which supplied more than 90% of its needs by importing gas from Gazprom, due to its refusal to pay for gas in rubles.