EU's Oil Supply Assurance Amid Russian Disruption

The European Commission sees no immediate threat to oil supplies in Hungary and Slovakia after a disruption caused by the Russian-Ukraine pipeline issue. Despite the halt, both countries have ample emergency reserves. An alternative import route via Croatia is being considered to bypass EU sanctions on Russian oil.

The European Commission states there is no immediate risk to oil supplies in Hungary or Slovakia despite interruptions of Russian deliveries through Ukraine due to existing emergency reserves, the Commission reported.

Kyiv indicated a Russian attack on a Ukrainian pipeline caused the stoppage since January 27. Hungary alleged Ukraine cut power to the Druzhba pipeline, impacting its and Slovakia's supply.

To counter the disruption, Hungary plans to utilize an EU sanctions exemption to import oil through Croatia's Adria pipeline as a contingency, while Croatia opposes using Russian oil, given its ties to funding conflict.

(With inputs from agencies.)