Ukrainian sanctions cut off Russian oil to Hungary and Slovakia

RUSSIA / FSU POLITICS - In Brief 20 Jul 2024 by Alex Teddy
On July 18 it was reported that the Russian supermajor Lukoil can no longer send its oil via pipelines through Ukraine. It may seem astonishing that Ukraine allowed this for two and a half hears in the war. Hungary and Slovakia stated that Lukoil was not delivering any oil now. Slovakia and Hungary are landlocked, so they rely on pipeline deliveries. They are also the most sympathetic to Russia of any EU countries. They obtained exemptions from EU sanctions on Russian oil and gas. Ukraine will not mind inconveniencing these two countries. The sanctions on Russian oil and has gas were not total for the other 25 EU countries. Russia still sells natural gas to the EU via Ukraine but far less than before. EU countries are trying to phase it out. Slovakia and Hungary each buy about 450,000 metric tones of Russian oil monthly. Most of this comes through the Druzhba Pipeline that passes through Ukraine. The pipeline supplies other countries, too. The Russian reaction was surprisingly muted. On July 19 the UK Cabinet discussed how to stop Russia's shadow fleet of about 200 ships from delivering oil around the world despite sanctions.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.