He was a member of the National Parliament on four occasions and was the Minister of the Economy and Energy between 17 August 2005 and 18 July 2007.

[4] As of February 12, 2021 Rumen Ovcharov is under court proceedings for the ownerless and a loss of government finances for 500 million leva in connection to Belene nuclear power plant.

[5] The Office of Foreign Assets Control of the United States Department of the Treasury has placed Ovcharov under sanctions pursuant to the Global Magnistsky Act for alleged participation in "corrupt energy contracts with Russian energy companies, receiving bribes and other kickbacks in exchange for fixed-price contracts for Russian gas and nuclear fuel and support contracts at [Kozloduy Nuclear Power Plant].

Ovcharov has received more than five million euros in offshore bank accounts since serving as Minister of Energy.

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