Hungary, Serbia expedite construction of new pipeline to transport Russian crude oil
Date
1/18/2025 7:47:31 AM
(MENAFN) Hungary and Serbia are expediting the construction of a new pipeline to transport Russian crude oil through the Druzhba energy system, according to Hungarian Foreign Minister Peter Szijjarto. This move follows new US sanctions on Russia and Ukraine’s refusal to transit Russian gas to other countries.
In October 2022, Hungary and Serbia agreed to build a pipeline for Russian Urals crude, and now the two nations are accelerating energy investments to ensure security of supply. Szijjarto emphasized the importance of energy cooperation, particularly with Serbia, calling it a strategic partner vital to Hungary’s energy security. He also criticized Western sanctions, which have disrupted oil deliveries, especially for Serbia, which relies heavily on Russian oil and is affected by embargoes and price caps on crude.
The Druzhba pipeline, one of the longest in the world, carries Russian crude to several European countries, but the latest sanctions targeting Russian oil producers and related companies have worsened supply challenges for Serbia. Szijjarto warned that these measures could significantly drive up fuel prices in Hungary and the surrounding region.
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