They figured out how Russian crude oil can reach Hungary from now on

They figured out how Russian crude oil can reach Hungary from now on

According to media reports, the European bank in question is the Dutch ING. ING did not wish to comment on this matter. According to the information of the Slovak oil company Slovnaft, the European Bank will still be able to handle payment for the transit of Russian oil shipments to Ukraine.

The bank reexamined the transfer order that was originally blocked between transit companies and eventually accepted it

Slovnaft spokesman Anton Molnar said. “This confirms that the existing system can be an effective and long-term solution,” he added.

The solution will permanently remove the obstacle to Russian oil exports to Slovakia, the Czech Republic and Hungary. According to the Russian pipeline company Transneft, Deliveries on the Bárátság crude pipeline were halted because it was not possible to conduct a Russian transfer directly to Ukraine due to Western sanctions.

After Hungarian Mol and its Slovak subsidiary, Slovnaft, completed the transportation themselves in the meantime, oil deliveries to Hungary and Slovakia began again. Based on inside information, deliveries to the Czech Republic are scheduled to resume on Saturday.

Cover image source: Getty Images

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