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10 Aug, 2022 12:05

Russia resumes oil supply to EU

Transneft says flows are restarting on Wednesday after Ukraine received transit fees
Russia resumes oil supply to EU

Russian pipeline operator Transneft said on Wednesday it is resuming pumping oil via the southern branch of the Druzhba pipeline starting 16:00 Moscow time (13:00 GMT) after a payment dispute was resolved. 

Transneft announced on Monday that Ukraine had suspended crude flows to parts of central Europe because Western sanctions prevented Moscow from making payments.

On Tuesday, Hungary’s biggest crude refiner, MOL, reported that Russian crude supplies via the southern branch of the pipeline had stopped, and offered to pay for transit on behalf of Moscow.

MOL said on Wednesday it had transferred the transit fee for use of the Ukrainian section of the pipeline. According to RIA Novosti, payment for transit was made from both Hungary and Slovakia, and Kiev has confirmed that it received the funds.

Druzhba, which is one of the longest pipeline networks in the world, carries crude some 4,000km from the eastern part of European Russia to refineries in the Czech Republic, Germany, Hungary, Poland and Slovakia.

Russia normally supplies about 250,000 barrels of oil per day via the southern leg of the route. The suspension of pipeline flows has affected Slovakia, Hungary and the Czech Republic.

The northern branch of the Druzhba pipeline, which runs through Belarus to Poland and Germany, continues to operate as normal, according to Transneft.

For more stories on economy & finance visit RT's business section

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