Finance
Slovak PM Says EU Should Drop Sanctions on Russian Oil and Gas to Boost Energy Security
Published by Global Banking & Finance Review®
Posted on April 4, 2026
3 min readLast updated: April 4, 2026
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Slovak PM Robert Fico urged the EU to lift sanctions on Russian oil and gas, restore Druzhba pipeline flows, and resume dialogue with Moscow to bolster energy security amid supply disruptions from the Iran conflict and rising prices.
Slovak PM Calls for Lifting EU Sanctions on Russian Oil and Gas to Ensure Energy Security
EU Energy Crisis and Political Responses
Slovak and Hungarian Leaders Advocate for Policy Changes
WARSAW, April 4 (Reuters) - The European Union should end sanctions on Russian oil and gas imports, take steps to restore Druzhba oil pipeline flows and end the war in Ukraine to tackle the energy crisis stemming from the war in Iran, Slovak Prime Minister Robert Fico said on Saturday.
Fico said in a statement after a call with Hungarian Prime Minister Viktor Orban that the EU should renew dialogue with Russia and ensure conditions so member states can get missing gas and oil supplies from all sources, including Russia.
Hungary and Slovakia's leaders are outliers in the EU for maintaining relations with Moscow.
Impact of Global Events on Oil Prices
Oil prices have surged since U.S. and Israeli strikes on Iran started on February 28, holding up shipments from the Gulf and creating, what the International Energy Agency called the biggest oil supply disruption in history.
Central European nations have taken measures to cool the impact of high prices at the fuel pump for people and businesses.
EU Oil Imports and the Druzhba Pipeline Dispute
Reduction in Russian Oil Imports
The EU was importing just 1% of its oil from Russia by the final quarter of 2025, having slashed imports since Moscow's full-scale invasion of Ukraine in 2022.
Pipeline Disruptions and Political Tensions
Hungary and Slovakia were the only two EU countries still importing Russian oil by January 27, when Kyiv said a Russian drone strike hit pipeline equipment in Ukraine, disrupting Russian oil shipments.
Budapest and Bratislava have accused Ukraine of deliberately delaying the repairs to resume oil flows through the Druzhba pipeline, triggering a political dispute that has seen Hungary block an EU loan to Kyiv. Ukraine says it is fixing it as fast as it can.
Calls for Coordinated EU Action
Fico's Statement on National vs. EU-Level Solutions
In the statement on Saturday, Fico said it was not enough to deal with the energy crisis only at the national level.
Proposals for Windfall Taxes and Crisis Measures
Meanwhile, five other European Union countries are calling for a windfall tax on energy companies' profits in reaction to the rising fuel prices, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday.
The bloc's energy chief said on Tuesday it was considering reviving energy crisis measures used in 2022, including proposals to curb grid tariffs and taxes on electricity.
Reporting Credits
(Reporting Jason Hovet; Writing by Karol Badohal;Editing by Alison Williams)
Key Takeaways
- •Fico argues that only ending sanctions and reviving Russian oil and gas supplies—including via the Druzhba pipeline—can mitigate the energy crisis triggered by the Iran war and ensure energy security.
- •Despite EU-wide reductions in Russian oil imports—down to around 1 % by late 2025—Hungary and Slovakia remain reliant on Russian supplies, benefiting from exemptions and pipeline access (Druzhba) (aljazeera.com).
- •The oil market is under severe stress: the U.S.-Israeli conflict with Iran has caused what the IEA called the largest global oil supply disruption in history—disrupting roughly 10–20 % of global supply—and pushing prices above USD 100/barrel (finance.yahoo.com).
References
Frequently Asked Questions about Slovak PM says EU should drop sanctions on Russian oil and gas to boost energy security
1Why does the Slovak Prime Minister want the EU to drop Russian oil and gas sanctions?
Slovak PM Robert Fico believes lifting EU sanctions on Russian oil and gas will restore energy flows, reduce prices, and boost energy security.
2Which countries in the EU are still importing Russian oil?
As of January, Hungary and Slovakia were the only two EU countries still importing Russian oil.
3What impact have US and Israeli strikes on Iran had on oil prices?
The strikes have caused oil prices to surge and resulted in major disruptions to shipments from the Gulf region.
4What is the Druzhba oil pipeline and why is it important?
The Druzhba pipeline is a key route for Russian oil exports to Europe, with recent disruptions affecting energy supplies to Hungary and Slovakia.
5What measures are other EU countries considering in response to rising fuel prices?
Several EU countries are proposing a windfall tax on energy companies' profits and revisiting previous energy crisis measures.
