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8/9, 12:33 PM (Source: TeleTrader)
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Transneft: Ukraine halted oil transit to central EU

Russian oil pipeline company Transneft stated on Tuesday that Ukraine stopped the transit of Russian oil through its territory via the southern branch of the Druzhba pipeline to Hungary, Czechia and Slovakia. A company spokesperson told RIA Novosti the deliveries were halted on August 4 as Russia has been unable to pay for the transit due to sanctions imposed by the European Union.

"Gazprombank, which services payments, notified us that the payment was returned" after the seventh package of EU sanctions came into force, the spokesperson said. Transneft noted that the rest of the pipeline is still in operation, with the branch running through Belarus continuing to deliver oil to Poland and Germany.

Baha Breaking News (BBN) / DJ