EditWSJ: Borissov offered Trump Jr. Bulgarian energy assets to lift Magnitsky sanctions on allies
The GERB leader raised the issue in April, putting on the table the Bulgarian section of TurkStream and a Lukoil refinery
The Wall Street Journal reports that when GERB leader Boyko Borissov met with Donald Trump Jr. in Sofia last April, he discussed the possible sale of a stake in the TurkStream pipeline in exchange for the U.S. lifing sanctions under the Magnitsky Act. Among those sanctioned in Bulgaria under the Global Magnitsky Act are the DPS – New Beginning leader Delyan Peevski, whose party offers precious support to the GERB-led government, former GERB finance minister Vladislav Goranov and a few others.
The information about the contacts between Borissov and Trump Jr. comes from a feature piece essentially profiling Gentry Beach – a college friend of the U.S. president’s eldest son.
Interestingly, in mid-April – just days before Donald Trump Jr.’s visit, Borissov said he was convinced that Peevski and Goranov would be removed from the Magnitsky sanctions list.
“In their post-inauguration travels, there is one place where Beach and Trump Jr.’s pursuits have intersected: Bulgaria,” WSJ writes.
Local authorities are reportedly looking for an American investor for the “Balkan Stream” – the 300-kilometre continuation of the TurkStream gas pipeline on Bulgarian territory that keeps delivering Russian gas to Europe, as well as for the country’s largest oil refinery, owned by Lukoil. Such investments, at least in Borissov’s perspective, could strengthen ties with Washington.
According to the report, Beach had for months been exploring possible deals and seeking a license from the U.S. Treasury Department that would allow Russian oil to be processed again at the refinery. He predicted major profits once the war in Ukraine ends – which, in his words, “is in the not-too-distant future”.
The Treasury Department declined to comment on individual applications or projects. People who had spoken with Beach about Bulgarian assets said he often highlighted his connection to Trump Jr., leaving the impression of a joint effort, though the latter’s actual influence remained unclear.
In the spring, Beach reportedly told his Bulgarian contacts that Trump Jr. would visit Sofia – and indeed, in April, the president’s son arrived as part of a broader tour of Eastern Europe.
Former Prime Minister Borissov saw this as an opportunity: dangling the gas pipeline and other Bulgarian assets could, in his view, lead to a new meeting with the U.S. president, whom he had already met in 2019. At the same time, he sought to secure relief from sanctions for his allies, WSJ notes.
During a lunch hosted by executives of the crypto company Nexo, which had invited Trump Jr., Borissov expressed his respect for the president’s father and mentioned his interest in American investment in the pipeline – even producing a paper map. However, the conversation reportedly took place through an interpreter at a noisy table, witnesses said.
According to a source close to Trump Jr., he was confused by the topic and made it clear he had no interest in the pipeline. Later, among Bulgarian officials, the view spread that Beach had exaggerated his connections with Trump Jr.
Nevertheless, the investor remains a mystery. Bulgarian officials and energy experts said he visited Sofia more than once during the spring and summer, even though Beach himself claims he did not come until late September.
The Bulgarian liberal opposition was quick to react to the WSJ article.
“As a former prime minister, I am ashamed to read today in The Wall Street Journal that Borissov offered the TurkStream pipes in exchange for what?! For lifting Peevski’s sanctions! An absolute disgrace for Borissov – as leader of the ruling party and former prime minister!” wrote former PP-DB co-chair Kiril Petkov on Facebook on Sunday.
Who is Gentry Beach?
WSJ writes that since Trump’s inauguration Beach has visited 20 countries seeking multibillion-dollar deals.
The president of the Democratic Republic of Congo reportedly met with a U.S. diplomat in a villa near Kinshasa after Beach had been actively seeking mining concessions in the region, presenting himself as connected to the Trump administration and showing messages and photos with Trump Jr.
Questions about his U.S. ties arose in Pakistan, where Beach promised billions in investments in critical minerals and luxury properties.
In Abu Dhabi, the royal court also sought to verify to what extent Beach represented the U.S. government after he showed interest in a multi-billion-dollar railway project.
In Germany, Chancellor Olaf Scholz’s office even tasked the intelligence services to investigate after learning that Beach had expressed interest in Nord Stream 2. “He was completely surprised,” commented Scholz’s former spokesperson Steffen Hebestreit.
Months ago, EUalive reprinted from Alternativata analyses by energy expert and former ambassador to Moscow Iliyan Vassilev, describing the failure of attempts to lift U.S. Magnitsky sanctions against Peevski. Despite Borisov’s and the Bulgarian Foreign Ministry’s active lobbying – including through contacts with Donald Trump Jr. and Senator Marco Rubio – Washington has given no signal of change.
Peevski Über Alles: Bulgaria’s descent into political turmoil
“The failure of this lobbying reveals the limits of backroom diplomacy and undermines the notion that proximity to Trump automatically guarantees immunity from U.S. law. Once it became clear the sanctions would remain, Peevski redirected his efforts to the domestic arena – consolidating power, seeking institutional control, and expanding his influence in government. This leaves Borissov in an ambiguous position: on one hand trying to mediate with the U.S., on the other watching his party being gradually drawn into Peevski’s schemes,” Vassilev commented at the time.
Borissov, he wrote, hoped to secure his political influence by tying personal interests to those of the Trump family – a strategy unlikely to yield quick results but one that risks keeping Bulgaria dependent on prolonged lobbying arrangements.
Through its participation in projects like TurkStream and the Vertical Gas Corridor, Bulgaria is becoming a key transit hub, opening new opportunities for brokering Russian energy exports to the EU, Vassilev wrote.
Commenting again today on the WSJ revelations about Borissov’s and Peevski’s offers to American investors for TurkStream and the Lukoil refinery, Vassilev wrote on X: “The deals are still happening secretly now! Total silence from the authorities and Bulgartransgaz because of confidentiality agreements. Distraction scandals.”
The Trump empire 2.0: building a business-political dynasty beyond the presidency
“According to The Wall Street Journal, Borissov spoke with Trump Jr. about selling TurkStream and lifting Magnitsky sanctions. Six months ago, Borissov blurted out to the media that work was underway on removing the sanctions. I then asked Temenuzhka Petkova (a politician close to Borissov, currenly minister of finance) what correspondence they had with the U.S. regarding the sanctions. For six months, Petkova hasn’t replied. When state policy is not about fighting corruption but about covert attempts to strike deals to remove people from corruption sanction lists, we cannot expect positive results,” commented Yes, Bulgaria co-chair Bozhidar Bozhanov on X.
His colleague Ivaylo Mirchev also called it a “huge scandal,” noting that the three national television channels have remained silent over the topic.
Caption: Donald Trump Jr., son of US president Donald Trump, attends the public memorial service of political activist Charlie Kirk at State Farm Stadium in Glendale, Arizona, USA, 21 September 2025. Kirk was shot and killed on 10 September during a stop on his American Comeback Tour organized by Turning Point USA at Utah Valley University. EPA/CAROLINE BREHMAN
Updated: October 6, 2025 - 16:31
