Agreement Reached on New Oil Transit Scheme from Russia: Hungary

The Hungarian oil and gas company MOL has announced that a new agreement regarding oil transit from Russia will take effect on September 9. This was reported by RIA Novosti, citing the company's statement.

"The new procurement procedure for oil fully complies with all relevant sanctions and regulations, including those of the EU and Ukraine," the company's statement reads.

Earlier, Hungary's Foreign Minister Peter Szijjarto stated that Hungary would not survive if Russian oil supplies are halted.