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Sarajevo Times > Blog > BUSINESS > Ukraine stops exporting Russian Oil to Europe
BUSINESS

Ukraine stops exporting Russian Oil to Europe

Published: September 2, 2024
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Ukraine will stop the transport of Russian oil and gas to the European Union (EU) via its pipelines at the end of the year when the current agreement expires and will not be renewed, a Ukrainian government adviser said on Friday.

Mykhailo Podolyak, an adviser to President Volodymyr Zelenskyy, stated in an interview that the current agreement expires at the end of the year, and while it cannot be unilaterally terminated, “there is no doubt that it will cease to be valid on January 1st, 2025.”

Kyiv is ready to transport gas from Central Asian countries or Azerbaijan to Europe, but not from Russia, in order to deprive Moscow of this source of income.

The transit agreement for Russian gas to Europe via Ukraine between Gazprom and Naftogaz expires on December 31st.

Despite the Russian invasion, which began in February 2022, Ukrainians have fulfilled the terms of the agreement, partly due to the insistence of European neighbors, particularly Hungary.

However, Ukrainian leaders have made it clear that they will not extend it. Zelenskyy recently reiterated this.

Hungary, the Czech Republic, and Slovakia are the last countries to receive Russian oil via the Druzhba pipeline. The northern part of the pipeline, which leads to Germany, has largely been shut down due to Western sanctions on Russian oil.

According to Russian media, the Kazakh subsidiary of the Italian energy company Eni began sending oil from the Caspian Sea through the pipeline in August.

Although this compromise allows Russia to earn revenue from transit, it does not permit the sale of its own oil to Europe, its most lucrative market, Biznis Info writes.

E.Dz.

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