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A new Ukrainian sanction, effective since late June, has halted Russian oil giant Lukoil’s supply to Hungarian company MOL Plc. via Ukraine. Due to Lukoil’s inability to lease the Ukrainian pipeline network, this disruption threatens MOL’s operations, as it processes around 70 percent of its oil from Russia. The situation raises concerns over a potential fuel supply crisis in Hungary and the surrounding region.
Lukoil halts oil supply to Hungary
Portfolio reports that Hungarian Foreign Minister Péter Szijjártó, after discussions with Russian Foreign Minister Sergey Lavrov in New York, confirmed that Lukoil had halted its oil supply to Hungary via Ukraine due to new legal constraints. Szijjártó emphasised the importance of Russian oil for Hungary’s energy security and stated that efforts are underway to find a legal solution to resume deliveries. MOL is collaborating with Lukoil to reestablish oil transit through Belarus and Ukraine.
Portfolio contacted MOL, but the company refused to respond, stating that negotiation details …
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