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Free AccessHungary says Croatia ‘Unreliable’ for Oil Transit
Hungary’s foreign minister Peter Szijjarto accused Croatia of being an unreliable partner for oil transits, after the EC recommended that the landlocked country import oil via the Balkan nation, Reuters said.
- Szijjarto said Croatia had raised transit fees fivefold since the war began and had not invested in capacity building.
- Hungary and Slovakia are concerned about their oil supplies due to the halting of flows from Russia’s Lukoil via the Druzhba pipeline.
- This is due to Ukrainian sanctions on Lukoil which stopped it using Druzhba.
- Consequently, the EC recommended using spare capacity on the JANAF Adriatic pipeline in Croatia, which it said was sufficient to supply both countries.
- Seaborne imports of Russian oil are banned in the EU, but pipeline imports via Druzhba are exempt.
- However, redirecting Hungarian and Slovak imports away from Russian cargoes remains an ambition for EU leaders as it looks to remove dependencies on the Kremlin.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.