Restoration of Oil Transit Through Ukraine

by Olha Povaliaieva
Thursday, August 11, 2022
Restoration of Oil Transit Through Ukraine

Hungary paid for the oil transit instead of Russia, and the oil supply was restored

The Russian oil and gas company Transneft has stopped pumping oil through the Ukrainian part of the pipeline Druzhba to Europe due to sanctions. Russia's official statement on the suspension of transit — technical problems that make it impossible to pay for services. Because of this, Hungary, the Czech Republic and Slovakia did not receive oil from Russia for 6 days.

In response, the Hungarian company MOL assumed the debt obligations of Russia and paid Ukraine for the use of Druzhba. Russia resumed oil pumping, and Slovakia and Hungary already received oil through the southern branch of the pipeline. It is reported that the Czech Republic will resume receiving Russian oil.

"Despite the fact that MOL has oil reserves for several weeks, the company is working to resolve the situation and is also negotiating to take over the commission," a MOL representative said.

It is known that the daily rate of oil traffic through Druzhba is 250.000 barrels.

You will be interested