EU Confirms No Immediate Oil Supply Crisis for Hungary and Slovakia Amid Disruptions

The European Commission reassures that Hungary and Slovakia face no immediate oil supply risks after Russian oil flow disruptions via Ukraine. Both countries hold significant emergency reserves. Discussions are ongoing for alternative supplies via Croatia's Adria pipeline, amid political tensions over energy dependency and EU sanctions.

The European Commission has assured that there is no immediate threat to oil supplies in Hungary and Slovakia, despite recent disruptions in Russian oil flows through Ukraine. A spokesperson confirmed that both countries have sufficient emergency stocks to mitigate any short-term risks. This comes after Ukraine reported a Russian attack on a pipeline.

Hungary has accused Ukraine of intentionally cutting off power to the Druzhba pipeline, a critical conduit for Russian oil to both Hungary and Slovakia. This potential crisis could impact Hungary's Prime Minister Viktor Orban, who faces a challenging election. The EU mandates member states maintain emergency reserves equivalent to 90 days of net oil imports.

To address the disruption, Hungary seeks to activate an emergency exemption in EU sanctions, planning to import Russian oil through Croatia's Adria pipeline. Slovakia is negotiating similar arrangements. Croatia, however, is reluctant to facilitate Russian oil imports, emphasising the geopolitical risks and ethical considerations. Hungary's MOL oil company remains silent on the issue.

(With inputs from agencies.)