EU: Hungary, Slovakia to See No Short-Term Oil Supply Risk

The European Commission sees no short-term risk to the security of oil supplies in Hungary or Slovakia following the disruption of Russian oil flows via Ukraine because both EU countries have ample emergency stocks, a Commission spokesperson said on Tuesday.

Slovakia's government also said its domestic fuel supply was not under threat, alleviating fears of an immediate fuel crunch after Kyiv's foreign ministry last week said a Russian attack on a Ukrainian pipeline was responsible for the halt to Russian oil flows to Eastern Europe since January 27.

Hungary has accused Ukraine of switching off power to that section of the pipeline, known as Druzhba, which supplies Hungary and Slovakia with Russian oil.

The potential fuel crisis would play against the Moscow-leaning Hungarian Prime Minister Viktor Orban, who is facing the possibility of losing power after 16 years following an election scheduled on April 12.

"There are no short-term risks to security of supply, because both member states - Hungary, Slovakia - hold 90 days' worth of emergency stocks in reserve," a Commission spokesperson said.

The spokesperson added that Brussels was in contact with Ukraine regarding the timeline for repairing the Druzhba pipeline.

EU law requires member countries to hold 90 days' worth of net oil imports as a buffer against supply shocks.

In response to the disruption to Druzhba, Hungary wants to use an emergency exemption in EU sanctions to import Russian oil via Croatia's Adria pipeline, and has asked Croatia to facilitate this.

Slovakia also said on Tuesday it was in negotiations to secure oil via Adria, which runs from the Croatian port of Omisalj to refineries in Croatia and others in southern and central Europe.

Seaborne imports of Russian crude are banned under EU sanctions, although landlocked EU countries can claim an exemption if their pipeline oil supplies from Russia are interrupted.

Croatia's economy minister Ante Susnjar said on Monday that the country would not allow central Europe's fuel supply to be endangered. He said the Adria pipeline could import more oil, but suggested that this should not come from Russia.

"A barrel bought from Russia may appear cheaper to some countries, but helps fund war and attacks on Ukrainian people," Susnjar said in a post on X.

Hungary's oil company MOL did not respond to emailed questions.

(Reuters)