South Stream won't be able to buy land in Bulgaria

South Stream won't be able to buy land in Bulgaria

South Stream will go from Russia under the Black Sea to Bulgaria and will be divided into two pipelines. But the company South Stream Bulgaria, half of which belongs to the Russians, most likely, won't be able to buy land in Bulgaria, reports ee24.com citing newsbg.ru.

In April, new rules of the sale of land in Bulgaria have come into force: land for agricultural purposes can be purchased only by those foreigners (including legal entities) who had stayed in the country for at least 5 years. Company South Stream Bulgaria was registered only 4 years ago, and cannot acquire land by the new law. However, the recent acquisition of land for the gas pipes was committed on 27 February, i.e. prior to the amendments to the Law on the property.

Representatives of the South Stream Bulgaria assured that they can continue to acquire land under the terms of an international agreement. Indeed, the republic's constitution says that foreign companies can buy land on the basis of treaties ratified by two thirds of parliament members. But there is one problem: only 140 deputies have voted for approval of the agreement on South Stream, which is by 20 votes less than 2/3.