How a Bulgarian oligarch took the government hostage and how long it can survive

Bulgaria risks sliding back into a deep political crisis.

Although recent attempts by pro-Russian forces to oust the government have failed, this is no cause for comfort. Most likely, what’s keeping the current government afloat is Bulgaria’s approaching entry into the eurozone. Once that goal is achieved, new challenges will follow.

Read more about why Bulgaria remains politically unstable in the article by Serhii Herasymchuk and Volodymyr-Nazarii Havrysh of he Foreign Policy Council "Ukrainian Prism" – The illusion of stability: what’s keeping Bulgaria from crisis and what it means.

15 April was a turbulent day for the ruling coalition.

The DPS party, which supported the formation of Rosen Zhelyazkov’s government but was not formally part of the coalition, announced it would no longer back the cabinet.

The reason: controversial oligarch Delyan Peevski.

DPS representatives criticised the government for not doing enough to dismantle the corrupt system that Peevski had built and exploited with impunity. Instead, they said, the government continued using it to suppress opponents. Corruption and smuggling still thrive in Bulgaria, and the judiciary is losing its independence.

The coalition was also accused of failing to honour its commitment to distance itself from Peevski’s party, DPS – New Beginning.

The government’s stability has clearly been weakened, but it’s still holding on.

On 17 April, a no-confidence vote initiated by pro-Russian parties failed. Ironically, the government was saved by Peevski’s own party, DPS – New Beginning.

Effectively, with DPS pulling its support, the government is now hostage to Peevski.

This means it must either cater to his demands or risk losing its majority, which could trigger early elections once again.

Given the current circumstances, the collapse of Zhelyazkov’s government seems inevitable. The question is no longer "if," but "when?"

A key date to watch is 4 June, when the report on Bulgaria’s readiness to join the eurozone will be published.

The pro-European opposition has pledged not to support any no-confidence votes before the release of the convergence report, as they are committed to Bulgaria joining the eurozone.

If Bulgaria successfully joins and the Zhelyazkov government stays in power until 1 January 2026, a new question will arise: Why should we keep this government any longer?

For now, the situation in Bulgaria remains mostly neutral-to-positive for Ukraine.

During his time in office, Prime Minister Rosen Zhelyazkov and Foreign Minister Georg Georgiev have shown strong support for Ukraine and a negative stance toward Russia.

Even Kiril Petkov, leader of the largest opposition party We Continue the Change – Democratic Bulgaria (PP–DB), which firmly supports Ukraine, acknowledged the government’s constructive foreign policy.

However, uncertainty now looms over future parliamentary votes related to Ukraine.