Hungary and Russia Work to Resume Lukoil Supplies Amid Ukrainian Legal Issues

Jul 17, 2024, 12:01 PM

Hungary and Russia are working to resume oil supplies after they were halted due to legal issues in Ukraine. Hungarian Foreign Minister Peter Szijjarto stated that the suspension is a result of Ukraine hardening sanctions against Russian energy giant Lukoil last month, effectively prohibiting the firm from using Ukraine as a transit country via the Druzhba oil pipeline. The halt in oil deliveries has prompted discussions between Hungary and Russia to find a legal solution. Hungary had previously received an exemption from EU sanctions on Russian oil. The Hungarian energy company Mol Nyrt. and Lukoil are collaborating to address the situation, Budapest says.