In July 2024, the transit of Russian oil to Hungary and Slovakia through the territory of Ukraine remained at the level of previous months, despite the sanctions imposed by Kyiv against Lukoil. This is confirmed by the latest data on export volumes, which indicate a stable level of supplies.
According to recently published data, 436,000 tons of oil were exported to Hungary and 356,000 tons to Slovakia in July. These figures are not only higher than in June, but also in line with the average exports in previous months.
It should be noted that in July the Lukoil company stopped its deliveries, which could affect the total volume of transit. However, it was possible to partially compensate for the losses thanks to the increase in supplies by the Tatneft company. This made it possible to maintain a stable level of transit to EU countries.
Hungarian and Slovak officials previously reported that they had managed to find temporary solutions to circumvent the sanctions imposed on Lukoil. These decisions seem to have made it possible to ensure uninterrupted transit of Russian oil, despite changes in suppliers.
Ukrainian officials confirmed that the transit of oil through the territory of Ukraine to Hungary and Slovakia remained stable in July. This demonstrates the adaptability of the market and the ability to adapt in the face of changes in suppliers and sanctions restrictions.
Thus, although Lukoil stopped supplying, the overall level of transit of Russian oil remained at a stable level thanks to the quick reaction of the market and the action of alternative suppliers such as Tatneft.
