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Hungarian MOL is ready to pay for the transit of Russian oil


August, 09 2022
watermark Economic news

Hungarian oil company MOL is negotiating to take over the payment for the transit of Russian oil through the territory of Ukraine.


Oil transportation via the Druzhba pipeline was suspended on August 4 due to technical problems of banks related to the payment of the transit fee by the Russian side. Under the conditions of sanctions, this turned out to be impossible.


As you know, oil supplies via the southern branch of the pipeline passing through the territory of Ukraine are carried out in the direction of Hungary, Slovakia and the Czech Republic. Transneft and Ukrtransnafta signed a long-term contract for the provision of services for the transportation of raw materials on the terms of 100% prepayment.


The Czech company MERO noted that it has oil reserves. which may last until the second half of August, and the authorities do not plan to use their almost 90-day strategic reserve now.


The Druzhba oil pipeline passes through the city of Mozyr in Belarus and splits into northern and southern branches there. Oil transit along the northern branch in the direction of Poland and Germany is carried out in normal mode.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.