Ukraine, Russia Sign Oil Transit Deal For Next Decade
Umer Jamshaid 6 days ago Tue 03rd December 2019 | 11:22 PM
Moscow and Kiev have renewed an agreement on transit of Russian oil via Ukraine to reach Europe, interrupted this year by contamination of the pipeline, Ukraine's pipeline management company said Tuesday
It said the companies also signed off on an agreement to update a number of conditions, saying this "guarantees the safe and steady functioning of Ukraine's oil transportation system for the long term.
Transneft confirmed the deal to AFP.
3 percent since 2017.
This came after an incident of serious contamination of Russia's major Druzhba, or Friendship, pipeline, which supplies several European countries.
Russia and Ukraine's transit deal was to run out at the end of the year amid long-running acrimony between the countries.
Two major new pipelines bypassing Ukraine are due to start operating in coming months: German-Russian Nord Stream 2 and the joint Russian-Turkish project TurkStream. This will hit Kiev financially and give it less clout against Russia.