site.btaBulgarian PM to CNBC in Davos: "Putin Should Be Wary of Using Gas as Weapon"

Bulgarian Prime Minister Kiril Petkov has told CNBC that Russian President Vladimir Putin should be wary of weaponizing energy supplies.

"He should be careful when he's using gas as a weapon because he's losing clients for good," Petkov told CNBC's Silvia Amaro at the World Economic Forum in Davos. "We're looking to diversify away from Gazpom altogether now."

Several weeks ago Bulgaria decided that it would not pay for Russian gas in rubles, as demanded by Moscow, because it represented a breach of contract. In turn, Russia cut its gas supplies to the country, CNBC reported.

Bulgaria's leader said he didn't regret the decision to refuse Moscow's demand, saying his country had showed Putin "that Bulgaria can stand on its feet, that gas dependency cannot be a way to influence our foreign policy, that we, as Europeans, can hold [firm] under pressure," he said.

Bulgaria was dependent upon Russia for 95% of its natural gas imports. By turning away from Russian gas, Petkov said Bulgaria had taken a leadership position in the EU, the business news channel recalled.