Business news from Ukraine

Business news from Ukraine

Ukraine reduced Russian oil transit by 16% in 2024 – Buslavets

20 January , 2025  

In 2024, Ukraine transported about 11.36 million tons of Russian oil through the southern branch of the Druzhba pipeline, reducing transit by 16% compared to last year.
“This is the lowest value at least since 2014, and probably in the entire history of Ukraine’s independence since 1991,” former Energy Minister Olha Buslavets posted on Facebook late last week.
According to her, most of the Russian oil in 2024 was supplied to Hungary – more than 4.7 million tons, which is almost the same as in 2023. In addition, 3.9 million tons of oil were transported to Slovakia (-15%) and 2.7 million tons (-35%) to the Czech Republic.
As reported, in July 2024, Ukraine tightened sanctions against Russia’s LUKOIL, effectively banning the transit of oil to Central Europe through the Ukrainian section of the Druzhba pipeline. The company was a major supplier of raw materials to both Hungary (about a third of the country’s imports) and Slovakia (40-45%).
At the same time, in September, the Hungarian MOL Group announced an agreement with Russian oil suppliers and pipeline operators to ensure its transportation via the Druzhba pipeline through Belarus and Ukraine to Hungary and Slovakia. According to MOL Group, the company has taken over ownership of the relevant volumes of crude oil on the border of Belarus and Ukraine.
Also in September, EC spokesman Olof Gill said that after Ukraine banned LUKOIL’s oil transit to Hungary and Slovakia, the European Commission (EC) quickly took all necessary steps to resolve the issue. He noted that LUKOIL is not the only oil supplier to Hungary and Slovakia.

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