BusinessPostCorner.com
No Result
View All Result
Tuesday, June 9, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Brussels tells Hungary and Slovakia to wean themselves off Russian oil

August 1, 2024
in Finance
Reading Time: 3 mins read
A A
0
Brussels tells Hungary and Slovakia to wean themselves off Russian oil
ShareShareShareShareShare

Stay informed with free updates

Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox.

Brussels has told Hungary and Slovakia to wean themselves off Russian oil and seek alternative sources after they complained that Ukraine was blocking supplies from Russia.

In a letter to Budapest and Bratislava seen by the Financial Times, EU trade commissioner Valdis Dombrovskis said that “diversification away from Russian fossil fuels should be actively pursued”.

The Hungarian and Slovak governments had asked the commission to intervene in their dispute with Ukraine after Kyiv placed sanctions on Russian energy company Lukoil.

Since they rely on Russian crude flowing through Ukraine via the Druzhba pipeline, which is also used by Lukoil, Hungary and Slovakia said the move threatened fuel shortages. 

But a commission spokesperson said on Thursday the countries had enough supplies since the overall flow had not diminished. “The urgent consultations” the two countries demanded, under the EU’s trade deal with Ukraine, were not needed.

Hungary and Slovakia were granted exemptions to an EU-wide ban on Russian oil imports following Moscow’s full-scale invasion of Ukraine in 2022 because of what they said were no available alternatives.

But Dombrovskis said they could use an existing pipeline bringing shipborne crude from Croatia. 

“The commission’s current analysis points to an adequate capacity for Hungary and Slovakia via alternative pipelines such as the Janaf Adriatic pipeline.”

He added that at a meeting last week to discuss the issue by representatives of all member states “a significant number . . . questioned why Hungary and Slovakia had apparently not yet explored alternatives so far”.

He said that MOL, the Hungarian energy company, had “set out in formal letters that Lukoil was indeed not the owner of the oil transported through Ukraine for the MOL group”, meaning that the supplies coming via Druzhba were not affected by Kyiv’s sanctions.

Dombrovskis met Denys Shmyhal, the Ukrainian prime minister, in Brussels on Thursday and was told enough oil was still flowing through Druzhba.

MOL has long-term contracts with Russian suppliers. Crude from Russia only accounted for 3 per cent of demand in the bloc, the commission said.

Hungarian foreign minister Péter Szijjártó this week accused the commission of “blackmail”, saying it persecuted the two countries because of their opposition to arming Ukraine.

Szijjarto said perhaps it was “Brussels, not Kyiv, that invented the whole thing . . . that wanted to blackmail two pro-peace countries that reject arms transfers”.

 Slovakia said it would provide additional information to the commission. “As long as the unblocking of oil supplies is not resolved in any way, we still consider the situation to be serious and threatening Slovakia’s energy security,” it added. 

Relations between Hungary and Brussels have worsened in the past month after Budapest took on the rotating presidency of the EU. Prime Minister Viktor Orbán visited Russian President Vladimir Putin in Moscow allegedly to broker peace in Ukraine, prompting outcry from fellow EU leaders who said he did not represent them. 

The commission is withholding billions in EU funds from Hungary because of concerns over the rule of law. Orbán is preventing other member states getting repaid by the EU for some of the arms they have sent to Ukraine.

Slovakia, which had a recent change of government with Orbán ally Robert Fico becoming prime minister last year, has threatened action against Ukraine.

Slovakia has not yet commented while a spokesperson for the Hungarian government has not yet responded to a request for comment.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Royal Mail deal to be probed over potential Russia links

Next Post

Japan’s tourist surge is a headache for luxury brands

Next Post
Japan’s tourist surge is a headache for luxury brands

Japan’s tourist surge is a headache for luxury brands

Ambiguity: ‘We will figure it out’ is HR’s most expensive sentence

Ambiguity: ‘We will figure it out’ is HR’s most expensive sentence

June 8, 2026
'It is by the grace of God that you find a diamond'

'It is by the grace of God that you find a diamond'

June 3, 2026
Current price of oil as of June 8, 2026

Current price of oil as of June 8, 2026

June 8, 2026
US adds BYD to list of firms with alleged Chinese military ties

US adds BYD to list of firms with alleged Chinese military ties

June 9, 2026
KNAV gets follow-up investment from NKSquared

KNAV gets follow-up investment from NKSquared

June 4, 2026
AICPA and NASBA name Elijah Watt Sells Award winners

AICPA and NASBA name Elijah Watt Sells Award winners

June 4, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Sadler Gibb acquires Assure CPA

Sadler Gibb acquires Assure CPA

June 9, 2026
China builds cheap humanoids at scale, but finding buyers might be the hardest part

China builds cheap humanoids at scale, but finding buyers might be the hardest part

June 9, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!