Sanction Waiver on Russian Oil Benefits Slovakia and Hungary

A U.S. sanctions waiver on Russian oil companies permits Hungary and Slovakia to continue importing Russian oil for a year. Slovak Economy Minister Denisa Sakova confirmed the waiver, which applies to Hungary's MOL-owned Slovnaft refinery, securing oil supply continuity in both countries.

In a significant development, the U.S. granted a sanctions waiver allowing Hungary and Slovakia to import Russian oil for the next year, according to Slovak Economy Minister Denisa Sakova. This move alleviates supply concerns for both nations amidst ongoing geopolitical tensions.

The waiver specifically enables Slovakia's Slovnaft refinery, a key asset owned by Hungary's MOL, to continue accessing Russian crude. This agreement underscores the ongoing economic interdependencies despite broader sanction regimes imposed on Russia.

By securing this waiver, both Slovakia and Hungary can maintain energy stability and mitigate potential disruptions that could have affected their economies. The extension is seen as crucial for both countries as they navigate the complex landscape of international energy politics.

(With inputs from agencies.)