.jpg)
2 hours ago
3
Article content
(Bloomberg) — Ukraine is ready to resume oil flows on the Druzhba pipeline, Hungarian refiner Mol Nyrt. said, a step that’s expected to unblock crucial European Union aid to Kyiv on Wednesday.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Ukrainian pipeline operator JSC Ukrtransnafta has confirmed that repairs to Druzhba have been completed following a Russian attack on the pipeline in late January, Mol said in a statement. The Ukrainian company said it was ready to resume sending crude oil to Hungary and Slovakia, according to Mol.
Article content
Article content
Article content
Outgoing Hungarian Prime Minister Viktor Orban had accused Ukraine of slow-walking repairs to harm his re-election prospects and had blocked in retaliation a €90 billion ($106 billion) EU loan to Ukraine. On Sunday, Orban’s government signaled it was ready to wave through the financing at a meeting of EU envoys on Wednesday if oil started flowing again by then.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The EU loan is critical for Ukraine to stay in the fight more than four years after Russia’s full-scale invasion, and with the US effectively ending much of its assistance since President Donald Trump returned to office in 2025. Kyiv has enough money to cover its needs only until June, Bloomberg reported last month.
Article content
Incoming Hungarian leader Peter Magyar, whose Tisza party scored a landslide election win against the pro-Kremlin Orban in April 12 elections, has said that Mol Chairman and Chief Executive Officer Zsolt Hernadi would travel to Moscow this week to hold talks on the resumption of Russian oil flows through the pipeline.
Article content
Magyar has pledged to bring Hungary back to the European fold after it drifted into Moscow’s orbit during Orban’s 16-year rule. At the same time, he has given a drawn-out timeline, extending into the next decade, for weaning the country off Russian oil and gas, despite an EU plan to cut energy dependence on Moscow soon.
Article content
Advertisement 1
English (US)