European bank agrees to process Russian oil transit payment to central Europe

Euractiv | Aug 12, 2022 at 3:47 PM
  • The payment, if confirmed by all parties, would be a step toward restoring oil flows to the Czech Republic after a week-long outage and also create conditions for future payments for transit to the region.
  • Flows to Hungary and Slovakia were restarted on Wednesday (10 August) after Hungary’s refiner MOL and its Slovak unit Slovnaft found a workaround by paying the fee to Ukraine’s transit company Ukrtransnafta themselves, but supplies to the Czech Republic have not resumed.
  • Central European countries are partially dependent on Russian oil and largely dependent on Russian gas, and have secured exemptions from the European Union’s incoming ban on imports of Russian oil until they adjust their shipping routes and refineries for other oil.