October 7, 2022
International

Three European countries’ oil transit from Russia has been halted due to financial problems

Three European countries' oil transit from Russia has been halted due to financial problems

According to Russia, the suspension of Russian oil shipments to three European nations via Ukraine is the result of difficulties with transit payments brought on by Western sanctions.

The southern section of the Druzhba pipeline, which links Ukraine to the Czech Republic, Slovakia, and Hungary, has been shut down, according to the Ukrainian side of the pipeline, according to Transneft, the state pipeline operator of Russia, which made the announcement on Tuesday.

The corporation claims that due to financial sanctions directed at Moscow, payment for oil transit over the pipeline cannot be handled. The operator of the oil pipeline stated in a statement on Tuesday that the delivery of Russian oil into Ukrainian territory was stopped on August 4.

The Ukrainian side stopped the oil transfer, the business claims, “due to a lack of cash for these services.” It has been confirmed by a spokeswoman for a Slovak refinery that pipeline-based oil transportation has been suspended for a number of days.

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