The European Commission announced that there is no immediate risk to oil supplies in Hungary or Slovakia due to the recent disruption of Russian oil flows through Ukraine. Both countries have sufficient emergency stocks, with each holding 90 days’ worth in reserve, as required by EU law. Slovakia’s government also confirmed that its fuel supply remains secure. This reassurance follows a halt in Russian oil since January 27, attributed to a Russian attack on a Ukrainian pipeline, which Hungary claims Ukraine turned off.
As Hungary approaches a critical election on April 12, the potential fuel crisis could negatively impact Prime Minister Viktor Orban, who has been in power for 16 years. In response to the supply issues, Hungary is seeking to use an emergency exemption to import Russian oil through Croatia’s Adria pipeline and has requested Croatia’s assistance. Slovakia is also negotiating for oil through the same pipeline.
While seaborne imports of Russian crude are banned under EU sanctions, landlocked countries have exemptions during supply interruptions. Croatia’s economy minister stated that while the Adria pipeline could transport more oil, it should not come from Russia, emphasizing the moral implications of funding the war in Ukraine. Hungary’s oil company MOL has not commented on the situation.
With information from Reuters