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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Ukraine Halted Oil Flows to Europe over Payment Issue, Russia’s Transneft Says

Transneft Oil Russia Europe Ukraine MOL Druzhba Hungary Moscow Coal
The receiver station of the Druzhba oil pipeline between Hungary and Russia is seen at the Hungarian MOL Group's Danube Refinery in Szazhalombatta, Hungary, May 18, 2022. (Reuters)

Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday.

International benchmark Brent crude jumped by $2 per barrel to trade near $98 as the news added to energy supply concerns, but turned negative later in the day.

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