Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Ukrainian attack suspends Russian oil flows to Hungary, Slovakia
    Finance

    Ukrainian attack suspends Russian oil flows to Hungary, Slovakia

    Ukrainian attack suspends Russian oil flows to Hungary, Slovakia

    Published by Global Banking and Finance Review

    Posted on August 22, 2025

    Featured image for article about Finance

    By Pavel Polityuk, Anita Komuves and Vera Dvorakova

    KYIV/BUDAPEST (Reuters) -Russian oil supplies to Hungary and Slovakia could be suspended for at least five days following the latest Ukrainian strike on a facility in Russia, the Hungarian and Slovakian governments said on Friday, in a widening of the fallout of the Ukraine war.

    Russia and Ukraine have stepped up attacks on each other's energy infrastructure over the past few weeks despite a push by U.S. President Donald Trump to reach a deal to end the conflict, which is now in its fourth year.

    The European Union reduced energy supplies from Russia after its full-scale invasion of Ukraine in 2022 and is seeking to phase out Russian oil and gas by the end of 2027.

    EU members Slovakia and Hungary are opposed to the phase-out, saying their economies depend on the Russian supplies. The two countries have also opposed to sanctions against Russia that Ukraine says are vital to push Moscow towards a viable peace.

    The Hungarian and Slovak governments wrote to Europe's executive Commission on Friday saying that the latest Ukrainian attack could leave them without Russian oil imports for at least five days, urging it to guarantee the security of supplies.

    "The physical and geographical reality is that without this pipeline, the safe supply of our countries is simply not possible," Foreign Ministers Peter Szijjarto and Juraj Blanar said in a letter.

    The Ukrainian strike on Thursday night marked the second time this week that Russian oil supplies have been cut to Hungary and Slovakia, after a halt on Monday and Tuesday.

    Ukraine's military said late on Thursday it had again struck the Unecha oil pumping station, a critical part of Russia's Europe-bound Druzhba oil pipeline, the commander of Ukraine's unmanned systems forces said late on Thursday.

    A Russian industry source also said the supplies could be halted for a few days. The Russian energy ministry did not reply to a request for comment.

    Moscow has repeatedly targeted Ukraine's gas infrastructure, hitting preparations for winter heating for the population and fuel for key industries in attacks it says are aimed at degrading its military. Ukraine has damaged several Russian refineries, aiming to disrupt Russian energy exports financing Russia's invasion and create fuel shortages in a number of Russian regions.

    GERMANY SAYS KAZAKH OIL SUPPLY UNAFFECTED

    The Soviet-era Druzhba pipeline, which runs through Belarus and Ukraine, ships oil from Kazakhstan to Germany as well as from Russia to Hungary and Slovakia. Germany said its supplies of Kazakh oil were unaffected by the latest strike.

    Hungarian Foreign Minister Peter Szijjarto said his government learned on Thursday evening of the attack.

    "This is another attack against our energy security," Szijjarto wrote on Facebook.

    Slovak pipeline operator Transpetrol confirmed the interruption in an emailed statement.

    Robert Brovdi, commander of Ukraine's unmanned systems forces, posted a video on Telegram messenger showing a large fire at a facility with numerous fuel tanks. Reuters could not confirm the location of the infrastructure in the video.

    Russian regional governor Alexander Bogomaz, whose Bryansk region borders both Ukraine and Belarus in the far west of Russia, said on Friday that an energy facility at Unecha had caught fire as a result of Ukrainian missile and drone attacks, adding that the blaze has been extinguished.

    "As a result of repelling a combined attack carried out by HIMARS MLRS missiles and unmanned aerial vehicles, a fire broke out at a fuel infrastructure facility in the Unecha district," Bogomaz said on Telegram.

    (Reporting by Anastasiia Malenko and Pavel Polityuk in Kyiv, Anita Komuves in Budapest, Vera Dvorakova in Gdansk and Riham Alkousaa in Berlin; editing by Mark Potter, David Goodman, Mark Heinrich, Philippa Fletcher)

    Related Posts
    Shell mergers chief Greg Gut quits after CEO blocks bid for BP, FT reports
    Shell mergers chief Greg Gut quits after CEO blocks bid for BP, FT reports
    Exclusive-Britain examines revamp of capital rules for likes of Citadel and XTX
    Exclusive-Britain examines revamp of capital rules for likes of Citadel and XTX
    Oil slips on Russia-Ukraine peace deal talks, weak China data
    Oil slips on Russia-Ukraine peace deal talks, weak China data
    Stocks slide as investors on edge ahead of data, central bank meetings
    Stocks slide as investors on edge ahead of data, central bank meetings
    Human‑wave attacks and drones: How Myanmar's junta is fighting back
    Human‑wave attacks and drones: How Myanmar's junta is fighting back
    When Banking Delays Cross the Line: Legal Rights Around Held Checks
    When Banking Delays Cross the Line: Legal Rights Around Held Checks
    EU to relent on combustion engines ban after auto industry pressure
    EU to relent on combustion engines ban after auto industry pressure
    Dollar on defensive as traders eye delayed US jobs data
    Dollar on defensive as traders eye delayed US jobs data
    US suspends technology deal with Britain, FT reports
    US suspends technology deal with Britain, FT reports
    QuantumDiamonds announces 152 million euros investment plan for new Munich site
    QuantumDiamonds announces 152 million euros investment plan for new Munich site
    British regulator kicks off consultation on new crypto rules
    British regulator kicks off consultation on new crypto rules
    Trump sues the BBC for defamation over editing of January 6 speech, seeks up to $10 billion in damages
    Trump sues the BBC for defamation over editing of January 6 speech, seeks up to $10 billion in damages

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    Europe to launch international commission for Ukraine war damages

    Europe to launch international commission for Ukraine war damages

    South Korea's ADEL signs up to $1.04 billion Alzheimer's drug development deal with Sanofi

    South Korea's ADEL signs up to $1.04 billion Alzheimer's drug development deal with Sanofi

    Uniper to launch sale of 20% stake in Opal gas pipeline

    Uniper to launch sale of 20% stake in Opal gas pipeline

    Trading Day: Payrolls, Fed jitters mount

    Trading Day: Payrolls, Fed jitters mount

    'Battlefield' maker EA forecasts softer 2026 bookings amid slow spending, crowded holiday slate

    'Battlefield' maker EA forecasts softer 2026 bookings amid slow spending, crowded holiday slate

    Britain clinches upgraded South Korea trade deal

    Britain clinches upgraded South Korea trade deal

    Trump says lawsuit against BBC likely to be filed soon

    Trump says lawsuit against BBC likely to be filed soon

    Tesla shares jump as Musk confirms driverless robotaxi testing

    Tesla shares jump as Musk confirms driverless robotaxi testing

    Italy's competition authority drops probe into Eni's Plenitude unit

    Italy's competition authority drops probe into Eni's Plenitude unit

    Bridgewater warns Big Tech's reliance on external capital to fund AI boom is 'dangerous'

    Bridgewater warns Big Tech's reliance on external capital to fund AI boom is 'dangerous'

    Italian firms using AI double in a year but still small minority

    Italian firms using AI double in a year but still small minority

    Juventus shares soar 19% after Agnelli family rejects crypto firm Tether's bid

    Juventus shares soar 19% after Agnelli family rejects crypto firm Tether's bid

    View All Finance Posts
    Previous Finance PostStocks rally, yields dip as Powell opens door to September rate cut
    Next Finance PostActivist investor Cevian backs AkzoNobel's strategy with 3% stake purchase