Russia, Greece and Bulgaria have signed an agreement to build an oil pipeline between the Black Sea and the Aegean. It will run from Burgas in Bulgaria to Alexandropolis in Greece, bypassing Turkey’s Bosphorous straits. The deal will channel 700,000 barrels of oil a day to Greece. The deal, signed by the three countries’ foreign ministers in Athens, gives Moscow just over half the total control in the venture. Bulgaria and Greece will each hold just under 25 per cent.