Fico: EU Should Support Oil Flows via Druzhba as There's Risk of Oil Shock

Brussels, 20 March (TASR-correspondent) - Given that a combination of circumstances could lead to an oil crisis in Europe, the European Union (EU) should support Slovakia's and Hungary's efforts to have oil supplies resumed via the Druzhba pipeline in Ukraine, Prime Minister Robert Fico (Smer-SD) has stated, assessing the results of Thursday's (19 March) EU summit. Fico said that since the outbreak of the war in Iran, the EU has already paid over €6 billion in higher fuel prices, and this situation, combined with Europe's economic developments and the provision of aid to Ukraine, is creating an "explosive mix". He pointed out that European Central Bank President Christine Lagarde warned at the summit of the risks of rising interest rates, increasing inflation and a decline in the EU's economic performance. In this situation, Fico doesn't understand why the EU isn't pressuring Ukraine to speed up repairs to the Druzhba pipeline, to allow inspectors access and to make use of the technical expertise and EU funding offered for this purpose. He called it ridiculous that Ukrainian President Volodymyr Zelenskyy is talking about six weeks for the repairs, which, according to Fico, coincides with the election in Hungary. "The situation will be very bad; it could even lead to an oil shock. Zelenskyy hasn't budged an inch; he's harming Slovakia economically, just as he's harming Hungary. He's already harmed us with the gas pipeline, when we lost transit fees," he added. Fico emphasised that this concerns oil, which, owing to an EU exemption, Slovakia and Hungary can continue to receive via pipeline and by sea until 2027. Fico claimed to have learnt at the summit that immediately after the election in Hungary, the EU will prepare legislation to repeal this exemption. "I'll consider this to be a significant encroachment on our national interests," he said. According to him, the EU has no influence on global events and lacks any solutions or tools to help member states if oil supplies were to run out. am/df