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Hungary Secures New EU Sanctions Avoid Targeting Oil

OIL

Hungary has secured that the EU’s 12th package of sanctions against Russia will not include a ban on Russian oil supplied via the Druzhba pipeline, TASS reported citing an announcement Dec. 11 by Hungary’s Minister of Foreign Affairs Peter Szijjarto.

  • "We have rejected efforts aimed at preventing us from buying Russian oil supplied through the Druzhba oil pipeline," Szijjarto said.
  • TASS also reported that Szijjarto said Hungary will agree to the 12th sanctions package only if the Mol’s refineries can continue to be supplied via the pipeline.
  • Flows via pipeline were granted an exemption from sanctions as part of an earlier package, which outlawed imports of Russian oil by Sea. This was due to the reliance of several Eastern and Central European states on Russian flows that could not be replaced at short notice.
  • Slovakia is also seeking an exemption from the EU ban on Russian oil for another year, TASS reported Dec. 5.
Energy BulletsCommodities
Energy BulletsCommodities

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