Budapest and Belgrade agreed to build an oil pipeline

BUDAPEST, Oct 10 – PRIME. Serbian President Aleksandar Vucic and Hungarian Prime Minister Viktor Orban have reached an agreement on the construction of an oil pipeline that will allow Serbia to receive Urals oil from the Druzhba pipeline, Hungarian government spokesman Zoltan Kovacs said.

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1 Hungary achieves non-proliferation of oil price ceiling for pipelines

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Hungary achieves non-proliferation of oil price ceiling for pipelines

Earlier, Vučić said that the country, under an agreement with Hungary, would build an oil pipeline with a length of 128 kilometers to connect with the Hungarian oil pipelines. According to him, the Serbian authorities will invest 12 billion euros in energy infrastructure over the next six years. Earlier, the Serbian Ministry of Energy announced that it was considering two options for laying an oil pipeline to connect with Druzhba in Hungary.

“Serbian President Aleksandar Vucic and Prime Minister Orban have agreed to build an oil pipeline to Hungary. The new pipeline will allow Serbia to be supplied with cheaper Urals crude oil by joining the Druzhba pipeline. Currently, oil is mainly supplied to the country through a pipeline through Croatia, but this is unlikely to be possible in the future due to the adopted sanctions,” Kovacs wrote on Twitter.

The EU on Thursday introduced the eighth package of anti-Russian sanctions, which includes both new economic restrictions and expanded lists of personal sanctions. Among the economic sanctions is the introduction of a legislative framework for determining the price ceiling for sea transportation of Russian oil to third countries. It is planned that the price limit will be introduced on December 5 for oil and on February 5, 2023 for oil products.

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The package of measures was actively supported by Croatia, where the port of Omišalj is located on the island of Krk in the Adriatic Sea with a terminal for receiving tankers with oil and oil products. From there, the oil is sent via a pipeline to Serbia for processing at the plant of the Serbian Oil Industry, which is 56.15% owned by the companies of the Gazprom group. Serbian Interior Minister Alexander Vulin said on Thursday that the EU, with the eighth package of sanctions against Russia, is introducing the first package of sanctions against Serbia, which depends on Russian oil supplies through Croatia.