EU sanctions are overcome by Russian oil transit payment| MENAFN.COM

Monday, 26 September 2022 05:49 GMT

EU sanctions are overcome by Russian oil transit payment


(MENAFN) Transneft, the operator of the Druzhba pipeline in Ukraine, has reported that payment for oil transit to the Czech Republic via that pipeline has reached an EU bank.

“We have received information that the funds arrived in the account of the recipient bank,” Igor Dyomin, an aide to the president of Transneft, informed RIA Novosti. “We are waiting for confirmation of the payment from Ukrtransnafta, so that we can resume pumping to the Czech Republic.”

“In regard to all payments made, we will take this into account in further mutual settlements,” Dyomin highlighted.

A source with direct knowledge of the situation told Reuters that the payment had been unblocked by Dutch bank ING and that flows to the Czech Republic should start up again by Saturday.

The southern branch of the Druzhba pipeline that transports oil from Ukraine to Hungary, the Czech Republic, and Slovakia was shut down earlier this week by the country's state-run company Ukrtransnafta. Western sanctions made it impossible to pay the transit fees, which led to the suspension of the transit.

Later, the refiner Slovnaft of Slovakia and the energy giant MOL of Hungary each independently paid for the transit of Russian oil through Ukraine. The resumption of Russian oil supplies was confirmed on Wednesday by both EU firms and Transneft.

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