Russia and EU Reportedly Working to Resume Oil Supplies – Media
Moscow and Budapest are making efforts to reinstate Russian oil deliveries following Ukraine's decision to prohibit transit via its territory, according to reports. Read the full article at RT.com.
TroibNews 
Ukraine has recently prohibited the transit of Russian crude through its territory, according to reports from the TASS news agency, which cited Hungarian Foreign Minister Peter Szijjarto.
Moscow and Budapest are seeking to restore oil supplies to Hungary after the transit route through Ukraine was blocked. This development follows Kiev's enhancement of sanctions on the Russian oil company Lukoil in June, part of which included a ban on using Ukraine as a transit country for energy deliveries. Lukoil had previously secured a five-year agreement in 2019 to export close to four million tons of oil annually with Hungarian energy firm Mol.
Efforts are underway to find a viable resolution to this transit challenge, Szijjarto informed journalists on the fringes of a UN conference in New York after meeting with Russian Foreign Minister Sergey Lavrov.
“We discussed the issue of safe supplies of gas and oil to Hungary from Russia,” Szijjarto stated. “If we talk about oil supplies, a new legal situation has now arisen in Ukraine, forcing Lukoil to halt the supplies to Hungary.”
In an update on related sanctions, Ukraine had imposed restrictions on Lukoil in 2018, preventing the company from selling its business interests in the country, engaging in trade operations, and participating in the privatization or leasing of state assets. Previously, Lukoil had transported Russian crude to Hungary through the southern section of the Druzhba oil pipeline, which traverses Ukraine. The new sanctions have now obstructed the supply route to the EU nation.
Szijjarto mentioned that Moscow and Budapest are collaborating on a legal workaround to resume oil shipments, underlining the importance of Russian crude for Hungary's energy security.
“We have also discussed the issue of gas supplies, which suits Hungary very well. Gas supplied via the Turkish Stream pipeline provides us with reliable energy supply,” he noted.
On December 5, 2022, the EU banned its member states from importing Russian crude as part of its sixth package of sanctions related to Ukraine. However, this prohibition did not extend to pipeline supplies. Hungary, along with Slovakia and the Czech Republic, has continued importing oil from Russia. In June 2023, the EU implemented the 11th package of sanctions, which included a ban on oil transportation from Russia through the northern branch of the Druzhba pipeline to Germany and Poland. However, oil deliveries along the southern branch of Druzhba to Hungary remain unaffected by the sanctions.
Lucas Dupont contributed to this report for TROIB News
Moscow and Budapest are seeking to restore oil supplies to Hungary after the transit route through Ukraine was blocked. This development follows Kiev's enhancement of sanctions on the Russian oil company Lukoil in June, part of which included a ban on using Ukraine as a transit country for energy deliveries. Lukoil had previously secured a five-year agreement in 2019 to export close to four million tons of oil annually with Hungarian energy firm Mol.
Efforts are underway to find a viable resolution to this transit challenge, Szijjarto informed journalists on the fringes of a UN conference in New York after meeting with Russian Foreign Minister Sergey Lavrov.
“We discussed the issue of safe supplies of gas and oil to Hungary from Russia,” Szijjarto stated. “If we talk about oil supplies, a new legal situation has now arisen in Ukraine, forcing Lukoil to halt the supplies to Hungary.”
In an update on related sanctions, Ukraine had imposed restrictions on Lukoil in 2018, preventing the company from selling its business interests in the country, engaging in trade operations, and participating in the privatization or leasing of state assets. Previously, Lukoil had transported Russian crude to Hungary through the southern section of the Druzhba oil pipeline, which traverses Ukraine. The new sanctions have now obstructed the supply route to the EU nation.
Szijjarto mentioned that Moscow and Budapest are collaborating on a legal workaround to resume oil shipments, underlining the importance of Russian crude for Hungary's energy security.
“We have also discussed the issue of gas supplies, which suits Hungary very well. Gas supplied via the Turkish Stream pipeline provides us with reliable energy supply,” he noted.
On December 5, 2022, the EU banned its member states from importing Russian crude as part of its sixth package of sanctions related to Ukraine. However, this prohibition did not extend to pipeline supplies. Hungary, along with Slovakia and the Czech Republic, has continued importing oil from Russia. In June 2023, the EU implemented the 11th package of sanctions, which included a ban on oil transportation from Russia through the northern branch of the Druzhba pipeline to Germany and Poland. However, oil deliveries along the southern branch of Druzhba to Hungary remain unaffected by the sanctions.
Lucas Dupont contributed to this report for TROIB News
