Business as usual for Slovakia after EU oil embargo comes into effect

Business as usual for Slovakia after EU oil embargo comes into effect | INFBusiness.com

Nothing changes for Slovakia despite the EU’s Russian oil embargo kicking in on Monday, as Slovakia is exempt said Economy Minister Karel Hirman.

The EU oil embargo bans seaborne Russian oil imports, though Slovakia, alongside Hungary and the Czech Republic, remains exempt and can continue to buy Russian crude oil until the end of 2023 via the Druzhba pipeline.

The only current danger is the damage to the infrastructure, said Hirman, adding that “if anything threatens us, it is Russia’s attacks on Ukrainian territory.”

The minister also explained that the Druzhba pipeline might not even be damaged itself.  “The problem is that the pumps on the pipeline need to have enough electricity to power them,” he added.

Meanwhile, power outages on Ukrainian territory already caused several supply disruptions in recent weeks.

However, in case of disruptions, oil imports will go to the Slovak refinery Slovnaft via Croatia and Hungary, instead. However, changing the supplier and switching to a different type of crude oil will require time and adjustments in processing technology – an argument presented by the embargo-exempt countries during negotiations.

(Michal Hudec | EURACTIV.sk)

Source: euractiv.com

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