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Russia to Sue Bulgaria

Atomstroiexport will take Bulgaria to arbitration court for 58 million euros ($82.35 million) over delayed payments for its work on two nuclear reactors, Interfax reported.

Atomstroiexport, which teamed up with Bulgarian NEK to build the 1,000-megawatt reactors at Belene, accuses Bulgaria of not respecting the terms of its contract for work done before construction was halted on the project in April.

The company was quoted Thursday as saying it had brought the case to the Paris-based ICC International Court of Arbitration because the delays in payment could give it problems with tax authorities and creditors at home.

(Reuters)

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