The government has decided to terminate the memorandum with the investment fund Gemcorp for the construction of a battery park in Bulgaria, outgoing Prime Minister Kiril Petkov said for bTV. This would not entail payments for Bulgaria, Kiril Petkov added.
The offshore company Gemcorp Capital Management was founded by Atanas Bostandzhiev. Before founding Gemcorp, Bostandzhiev was CEO of VTB Capital, the British-based arm of Russia’s second-biggest bank VTB. According to western media, Gemcorp is connected to the Kremlin.
MP Desislava Trifonova asked in parliament “who actually brought the company to Bulgaria”. MP Trifonova also asked “why Bulgaria’s outgoing Premier had lied that he had ordered a counterintelligence probe into the firm and why he had lied that the company was recommended by the Unites States Embassy in Sofia and the British Embassy Sofia”.
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Legislative amendments banning individuals sanctioned under the global Magnitsky law from holding senior government or party positions will likely be..
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