Nexo freezes withdrawals
Early this morning, the prosecutor's office and the National Security Agency raided offices related to the Bulgarian crypto bank Nexo. A published footage shows police cars parked in front of the offices of the company, whose founders and main owners are former MP Antoni Trenchev and Kosta Kanchev.
The description given by the prosecutor's office fits Nexo as they state it is "a company that operates globally through companies in the UK, Switzerland, USA and offshore destinations. It is not registered here, but is managed operationally from Sofia". The pyramid structure of the crypto lending company has been broadly discussed in the past and recently Nexo was kicked out from several states in the US after revisions to their corporate policies.
Bulgaria set for another update to NRRP
Parliament has voted in favor of the cabinet revising the National Recovery and Resilience Plan, according to which, Bulgaria could receive up to BGN 5.69 billion by 2026. The deadline for the cabinet to draft a proposal is the end of March 2023.
Today's parliamentary decision aims at "dropping the commitment to reduce carbon emissions from electricity production by 40% by the end of 2025, taking as a benchmark 2019." The question of whether the net zero goals will lead to the closure of large Bulgarian coal plants is a subject of attacks between WCC on one side and GERB and Vazrazhdane on the other.
Bulgaria and Turkey target rail links to free up roads
Bulgaria and Turkey have agreed to increase the number of intermodal trains per day, with trucks loaded on them, crossing from one border to the other without using Bulgarian roads. According to the acting Minister of Transport and Communications, Hristo Alexiev "last year, only through the intermodal container terminal in Plovdiv, 50 thousand large trucks were transported to Turkey by rail. We want to increase the number of these trucks and make them 150-200 thousand per year. The goal is to make the roads free for citizens".
Earlier today, it was announced that Turkey and Bulgaria plan to boost transport capacity between them by increasing the number of trains running between the two countries to 12 a day.