Russian oil transit via Ukraine halted due to sanctions

The supply of Russian oil to three European countries through Ukraine has been halted as the transit payment cannot be processed due to sanctions, Russian firm Transneft said.

“On August 4, the delivery of Russian oil via the territory of Ukraine was halted,” the oil pipeline operator said in a statement, adding that this had affected deliveries to Hungary, Slovakia and the Czech Republic.

The company said the Ukrainian side stopped the oil transport “due to not receiving funds for these services”.

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However, deliveries to Poland and Germany via Belarus were continuing “as usual”,

Since President Vladimir Putin sent troops to Ukraine, Washington and Brussels have pummelled Moscow with unprecedented sanctions, cutting Russia off from international financial institutions.

The EU has looked to reduce its dependence on Russian energy resources and has agreed to ban more than two-thirds of Russian oil imports.

The United States banned Russian oil and gas days after the start of Russia’s military campaign on February 24.

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