Budapest is close to finalizing talks on “balanced” oil supply after Ukraine blocked the transit of Russian oil through the Lukoil pipeline, Hungarian Foreign Minister Peter Szijjarto said on Aug. 21 after a government meeting. Szijjarto did not specify which country or countries would export oil to Hungary to compensate for the lack of Lukoil supplies. In June, Kyiv imposed sanctions blocking Lukoil, one of the largest oil companies in Russia, from transiting crude oil through the Druzhba pipeline running through Ukrainian territory. The move aims to cut off one of the Kremlin’s sources of in…
