The US Department of Treasury’s Office of Foreign Asset Control (OFAC) announced new sanctions on three Native individuals and sixty-four businesses over allegations the sanctioned entities and people were easing Russian sway from the Bulgarian authorities.
The newly-announced sanctions centre on two oligarchs,. Bojkov is a gaming magnate who fled Bulgaria after a warrant was issued for his arrest from 2020. Peevski is a media mogul who had been chosen to the Parliament.
OFAC sanctions imposed under the International Magnitsky Act prohibit US persons from doing business with a qualified individual, a sanctioned entity, or any company that’s majority-owned by sanctioned entities or individuals. In its media release, OFAC predicted these sanctions the most significant use of this International Magnitsky Act thus far, covering sixty-seven entities and individuals, and any companies owned by sanctioned persons.
These sanctions follow enormous anti-corruption protests in Bulgaria at 2020. These protests were mostly directed at Prime Minister Boyko Borisov’s authorities. Borisov has denied any link with the people that were sanctioned this past week.