Slovakia says hardest hit Russia oil sanctions, expects solidarity

Slovakia said on Friday it would be hardest hit European Union sanctions on Russian oil and it expected solidarity from Brussels to mitigate the impact.
The economy minry said Slovakia had sought a three-year derogation on trade-in piped Russian oil and oil products but was unsuccessful as tough sanctions were approved with the aim of hitting Russian revenues following its invasion of Ukraine.
“The embargo … was approved in a version with direct impact on the market for motor fuels and their production in Slovakia,” the minry said in a statement.

“Within the declared solidarity we expect individual access to resources from REPower EU,” it said, referring to the EU’s plan to end dependence on Russian fossil fuels and tackle the climate crisis.Best of Express PremiumPremiumPremiumPremiumPremium
The minry said the final version of the sanctions meant Slovakia could keep importing crude from Russia via the Druzhba pipeline, but after eight months this could only be used for production for the domestic market and oil product exports to the neighboring Czech Republic, which would be possible for further 10 months.
Slovakia’s only domestic refiner, Slovnaft, runs on Russian oil.

It said on Thursday the sanctions would have a severe impact on its production and create market shortages in fuels in the region as it could not make technological changes in time.
The 124,000 barrel-per-day refinery, owned Hungary’s MOL, is based near Slovakia’s borders with Hungary and Austria, and also has a product pipeline to the Czech Republic.
It exports the majority of its output, including diesel, petrol, jet fuel, sulphur, and plastics to a number of central and west European countries and said forced a reduction in capacity may also threaten supplies to the domestic market.