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What will be the primary legal resolution for Lukoil's halted oil supplies by end of 2024?
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Resolution / Starting Odds
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Official announcements from Hungarian, Russian, or Ukrainian governments or Lukoil
Story
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.
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