Oil may surge again: Big deal to be decided this week

Deliveries through the Druzhba pipeline, which supplies Hungary and Slovakia with Russian oil, could be resumed as early as this week. The European Commissioner for Enlargement said this to the members of the European Parliament on Monday Marta Kosova, writes TASR according to the report of the DPA agency.

Shortly thereafter, the Cypriot presidency of the EU Council announced that EU countries will try on Wednesday to finally approve the release of a 90-billion-dollar loan for Ukraine, until now blocked by Hungary due to interrupted deliveries via the Druzhba pipeline.

Hungarian Prime Minister Viktor Orbán said on Sunday that Ukraine indicated its readiness to resume supplies of Russian oil via the Druzhba pipeline to Hungary and Slovakia as early as Monday, if Budapest stops blocking the disbursement of the EU loan to Kyiv. According to his words, this information was conveyed to him by Brussels. “Hungary’s position has not changed: no oil = no money. As soon as oil supplies are restored, we will no longer prevent the provision of the loan.” wrote Orbán on the X social network.

Hungarian Minister for EU Affairs János Bóka added that if oil supplies resumed on Monday, Budapest could approve the loan disbursement at Wednesday’s meeting of the permanent representatives of the 27 EU member states. A source from the Union also confirmed for TASR on Sunday that the necessary aid for Ukraine could be decided at this meeting.

Ukrainian President Volodymyr Zelenskyi said last week on Tuesday that the pipeline will be back in operation by the end of April. Oil from Russia has not flowed through Druzhba to refineries in Hungary and Slovakia since January 27. Both Orbán and Slovak Prime Minister Robert Fico repeatedly claim that the pipeline is not damaged and that Ukraine refuses to restore transit for political reasons. In this context, Budapest is blocking the payment of the already agreed EU loan as well as the adoption of the 20th package of sanctions against Russia.

Slovak Foreign Minister Juraj Blanár and Fico announced this week that Slovakia is ready to block the new sanctions package until oil supplies through Druzhba are restored. Bratislava does not block the mentioned loan.

In the elections in Hungary on April 12, the opposition party Tisza won convincingly. According to several analysts, its leader Péter Magyar, the likely future prime minister, may support the disbursement of the loan after taking office in exchange for the unblocking of frozen EU funds for Hungary.

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