Ukraine halts Russian oil transit

Ukrtransnafta has stopped moving Russian oil through the Druzhba pipeline due to problems receiving payment, they told the Russian Federation.

The transfer of Russian oil through Ukraine was stopped on August 4, reports Transneft.

The Russian company recalls that deliveries through the Ukrainian part of the Druzhba pipeline are carried out on the basis of a long-term agreement with Ukrtransnafta in terms of 100% prepayment.

Transneft said that when it paid on July 22 for oil transit in August, the funds were returned to the company’s account on July 28.

“The situation is complicated by the fact that European regulators have not yet developed a unified position on the algorithm of actions for banks in different jurisdictions, and have not developed a procedure for -issuance of these permits,” the report said.

“To resolve the issue, Transneft sent an appeal to an authorized bank for further transfer of information to the European regulator to obtain permission to carry out repairs under an agreement with JSC Ukrtransnafta, the options for alternative flow of funds is being done, Daily consultations and negotiations with servicing banks are underway,” said the source. Transneft.

The company added that it was Ukrtransnafta that stopped transferring oil precisely because of its inability to receive payment.

At the same time, the transfer of oil through Belarus in the direction of Poland and Germany continues.

Recall that the leaders of the EU countries agreed on the sixth package of sanctions against Russia for its aggression in Ukraine, in particular, they agreed to impose an embargo on the import of two-thirds of Russian oil.

The G7 countries intend to impose restrictions on the price of Russian oil at the beginning of winter.

But, according to media reports, Mediterranean countries are secretly making record purchases of Russian oil.

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