The family of Alexander Manolev can receive about 40-60 million euros in income, journalists say.
The family of the former Deputy Minister of Economy of Bulgaria Alexander Manolev, who was punished by the United States for corruption and included in the Magnitsky list, entered into contracts with the Ukrainian Defense Procurement Agency for almost 400 million euros. This was reported by EUReporter.
It was indicated that in 2021, sanctions were imposed by the US State Department on Alexander Manolev, his wife and children and four other Bulgarian politicians. Therefore, Manolev’s family cannot open bank accounts and engage in business activities. At the same time, Romania and Ukraine allow Manolev to profit from the arms trade.
Journalists learned that a year ago Manolev’s father, Dimitar, who was not subject to US sanctions, acquired the Bulgarian company Bulgarian Industrial Engineering and Management (BIEM).
The publication claims that through old connections with the Bulgarian Ministry of Economy, Manolev persuaded the director of the state-owned VMZ ammunition plant to sign several contracts with BIEM. Manolev, trying to hide his personal involvement (so as not to harm relations with Russia) and bypassing the sanctions policy of the Ministry of Defense of Ukraine (the Ministry of Defense does not have the right to enter into agreements with companies that owners or affiliates are under sanctions, especially the United States), decided to supply VSW products through the Romanian state intermediary Romarm.
“It is interesting that Romarm did not pay attention to the nature of BIEM and entered into the corresponding contracts with the Bulgarians, who became a “buffer” between BIEM Manolev and the Ukrainian state-owned enterprise. Defense Acquisition Agency“, says the article.
April 4 this year Defense Acquisition Agency and Romarm signed two contracts for the supply of disposable grenade launchers worth 104.8 million euros. Subsequently, a large amount of the advance was kept from the Agency to Romarm, and from there to BIEM.
As evidence, the journalists provide a copy of the Bulgarian export license:
It is said that later Romarm and Defense Acquisition Agency signed several more contracts for the same grenade launchers worth several million euros. So far, the BIEM – Romarm tandem has concluded contracts with Defense Acquisition Agency of 395 million euros. However, under some contracts Agency there were lower price offers from other suppliers.
Journalists believe that due to the profitability of defense supplies between 10% -15%, the family of the sanctioned politician Manolev can receive about 40-60 million euros in income.
Let’s recall that in 2023, an audit at the Ministry of Defense revealed violations worth billions of hryvnias. More than 300 people were brought to financial discipline and accountability.
It was also reported that the case of former officials of the Ministry of Defense regarding the supply of low-quality body armor to the Armed Forces of Ukraine for almost 2 billion Hryvnias was brought to court.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.