Ukraine blocks part of Russian oil destined for Europe due to lack of payment

War between Ukraine and Russiacase

Shipments of Russian oil via Ukraine to Hungary, Slovakia and the Czech Republic have been halted after a bank transaction related to sanctions against Moscow was rejected. Deliveries to Poland and Germany will continue as usual.

Payment declined, transaction aborted. Deliveries of Russian oil via Ukraine to three European countries have been halted after a bank transaction related to sanctions against Moscow was rejected, the Russian company in charge of transporting hydrocarbons said on Tuesday.

In a press release, Transneft states that its payment for August’s transit right through Ukraine, made on July 22, was denied on July 28 due to the entry into force of certain sanctions against Moscow. As a result, the Ukrainian company UkrTransNafta “since August 4, stopped providing services for the transportation of oil through the territory of Ukraine”said Transneft.

A gradual embargo on Russian oil

These are deliveries via a branch of the Druzhba pipeline, which runs through Ukraine and serves three European countries without access to the sea, Hungary, Slovakia and the Czech Republic. Deliveries to Poland and Germany through another branch of Druzhba passing through Belarus, “continue normally”said Transneft.

Despite the Russian military offensive there since late February, Russian oil and gas continue to flow through Ukraine to the European Union, several members of which are heavily dependent on hydrocarbons from Moscow. In June, the EU decided on a gradual embargo for Russian oil, which in particular provides for the cessation of crude oil imports by ship within six months. However, supplies from the Druzhba pipeline continued to be approved “in the interim”without a deadline, a concession obtained by Hungarian Prime Minister Viktor Orban, who maintains ties with Vladimir Putin and on whom the country is dependent for 65% of its consumption of this cheap Russian oil.

European countries have been trying to reduce their energy dependency on Russia since the conflict in Ukraine, accusing Moscow of using its hydrocarbon reserves as an energy source “weapon of war”. Russia has therefore sharply reduced its gas supplies to Europe in recent weeks.

Kaddouri Ismail

I am Ismail from Morocco, I work as a blogger and online marketer. I am also the founder of the “Mofid” site, in which I constantly publish many important articles in the field of technology, taking advantage of more than 5 years of experience working in the field. I focus on publishing in a group of areas, the most important of which are programming, e-marketing, digital currencies and freelance work.

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