Russia July Oil Flow to Hungary, Slovakia Normal Amid Lukoil Ban
- Tatneft raised exports to replace most of Lukoil’s barrels
- Hungary is working on a longer-term solution to secure flows
Russia exported some 436,000 tons of crude to Hungary and about 356,000 tons to Slovakia last month via Ukraine.
Photographer: Balint Porneczi/BloombergRussia’s crude oil exports to Hungary and Slovakia via Ukraine remained within normal levels in July despite Kyiv’s sanctions on Lukoil PJSC, as Tatneft PJSC stepped in to replace the bulk of the missing barrels.
Ukraine hardened restrictions against Russia’s second-largest oil producer over the Kremlin’s military aggression, effectively prohibiting the company from transiting crude through its territory from late June. The sanctions against Lukoil affected Hungary and Slovakia, landlocked nations that have continued to import Russian barrels via the Druzhba pipeline through Ukraine after obtaining temporary exemptions from European Union energy sanctions.