XM does not provide services to residents of the United States of America.

Slovak PM blasts Ukraine's Lukoil sanctions as oil flow stops



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Slovak PM blasts Ukraine's Lukoil sanctions as oil flow stops</title></head><body>

July 20 (Reuters) -Slovakia will not be a "hostage" to Ukraine-Russia relations, its Prime Minister Robert Fico told his Ukrainian counterpart in a call on Saturday, after Kyiv placed Russian group Lukoil on a sanctions list, leading to a halt in deliveries.

Slovakia and Hungary said this week they had stopped receiving oil from key supplier Lukoil LKOH.MM after Ukraine imposed a ban last month on the transit of resources from the Russian energy company via its territory.

For Slovakia, that meant a loss in some supplies for its Slovnaft refinery, which is owned by Hungarian oil and gas group MOL MOLB.BU.

Slovakia's government office said on Saturday that Fico spoke by telephone with Ukrainian Prime Minister Denys Shmyhal and told him Slovakia did not intend "to be a hostage of Ukrainian-Russian relations".

Slovnaft will receive 40% less oil for processing than needed, the government said, which will hit Slovak markets and could also lead to a stop of diesel supplies from Slovnaft destined for Ukraine.

"The inclusion of Lukoil on the sanctions list is just another example of senseless sanctions that do not hurt the Russian Federation but mainly some (European Union) member state, which is unacceptable," Fico's office said.

Fico has been a long-time critic of sanctions against Russia and, after taking office for a fourth time last year, halted direct state military aid to Ukraine, raising criticism for veering foreign policy too close to Moscow.

While the EU has imposed sanctions on Russian crude already, some countries like Slovakia have exemptions to have more time to transition to alternative sources.



Reporting by Jason Hovet
Editing by Alexandra Hudson

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.