Hungary to supply Russian oil through Ukraine – Bloomberg

A Hungarian power company Mol Nyrt has signed an agreement which provides for an uninterrupted supply of Russian oil through a pipeline which goes through the territory of Ukraine.

Source: Bloomberg

Details: This news emerged after Ukraine had basically banned the Russian Lukoil company from using it as a transit country in response to the Russian invasion. According to the agreement, Mol, which controls oil refineries in Hungary and Slovakia, will take on oil supply at the Belarusian-Ukrainian border on 9 September.

Earlier the Russian side was responsible for oil supply to the Hungarian and Slovakian borders with Ukraine.

"The new arrangement provides a sustainable solution for crude oil transportation on the Druzhba pipeline," Mol Downstream Executive Vice President Gabriel Szabo said, referring to the pipeline that connects Russia and Hungary via Ukraine. He didn’t specify which company or companies will deliver the supplies.

Hungary and Slovakia are both landlocked nations that obtained temporary exemptions from European Union energy sanctions on Russia. Since Ukraine hardened sanctions on Lukoil in July, Hungary and Slovakia had been receiving crude oil via producers such as Tatneft PJSC.

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