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Banks agree to process Russian oil transit payments to Central Europe

Russian pipeline monopoly Transneft said on Tuesday that Western sanctions prevented it from paying for transport from Moscow to Ukraine, so from August 4 onwards, the Czech Republic, Hungary and Slovakia via the Druzhba pipeline. said it had stopped supplying to — Reuters photo

Saturday, August 13, 2022 14:41 MYT

PRAGUE, Aug. 13 — A European bank has agreed to process payments for shipping Russian oil through Ukraine, Slovak refiner Slovnaft and another source familiar with the matter said last week. He said he had removed the cause of the oil outage to Central Europe.

If all parties confirm the payment, this payment would be a step towards restoring oil flows to the Czech Republic after a week-long outage, as well as the terms of future payments for shipments to the region. create.

Russian pipeline monopoly Transneft said on Tuesday that Western sanctions prevented it from paying for transport from Moscow to Ukraine, so from August 4 onwards, the Czech Republic, Hungary and Slovakia via the Druzhba pipeline. said it had stopped supplying to

Shipments to Hungary and Slovakia resumed on Wednesday after Hungarian refiner MOL and its Slovak arm, Slovnaft, found a workaround by paying a fee to Ukrainian shipping company Ukrtransnafta itself, but the Czech Republic Supplies to the Republic have not been resumed.

Slovnaft spokesman Anton Molnar said: “According to our information, the bank reconsidered and finally accepted the initially blocked payment of transit charges between transit companies.” .

“This confirms that a framework set up this way is functional and could be a long-term solution,” he said.

According to another source familiar with the matter, payments have been unblocked by Dutch-based bank ING, and transfers to the Czech Republic are expected to resume by Saturday.

ING declined to comment.

Ukrtransnafta and Transneft did not immediately respond to requests for comment.

Central European countries are partially dependent on Russian oil and heavily dependent on Russian gas, and an upcoming European Union ban on imports of Russian oil until they adjust other oil shipping routes and refineries. We guarantee exemption from

Orlen Unipetrol, a Czech oil refiner owned by Poland’s PKN Orlen, declined to comment.

MERO, the Czech oil shipping company that operates the Czech part of the Druzhba pipeline, said it had no information on the status of payments.

On Thursday, MERO chairman Jaroslav Pantucek said he expected remittances to the Czech Republic to resume on Friday or Saturday after the payment issue was resolved, although PKN has announced a similar alternative to MOL. PKN declined to confirm after suggesting that the payment might be made. — Reuters

https://www.malaymail.com/news/money/2022/08/13/bank-agrees-to-process-russian-oil-transit-payment-to-central-europe/22616 Banks agree to process Russian oil transit payments to Central Europe

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