Slovakia and Hungary no longer receive oil from Russia’s Lukoil due to sanctions imposed by Ukraine against the company.
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At the same time, it is noted that oil from other Russian enterprises continues to enter the country through the Druzhba oil pipeline.
Last month, Ukraine tightened sanctions against Lukoil, effectively banning the company from using Ukraine as a transit country for its products.
For the Hungarian company Mol, Muscovite supplies provide two-thirds of all crude oil, but it is possible that it will be able to completely replace them from 2025.
The government in Budapest seized almost all of Mol’s profits through a special tax aimed at covering the budget deficit.
There is currently a legal situation in Ukraine whereby LUKoil does not supply to Hungary. We are currently working on a legal solution, Hungarian Foreign Minister Peter Szijjarto told reporters after a meeting with Russian Foreign Minister Sergey Lavrov.
Lukoil has been under sanctions in Ukraine since 2018, but they were limited – they concerned only the withdrawal of capital, restrictions on trade operations and a ban on participation in the privatization or lease of state property. In June 2024, the National Security and Defense Council significantly expanded them, adding, in particular, a ban on transit.
Source: Racurs
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