Serbia, Russia, Hungary Advance Joint Oil Project
(MENAFN) Hungary has revealed significant strides in its collaborative effort with Serbia to develop a new oil pipeline that will carry Russian crude.
According to Foreign Minister Peter Szijjarto, the initiative is “moving forward,” and he pledged to resist Brussels’ attempts to sever Hungary’s access to Russian energy supplies.
The planned pipeline will stretch 300 kilometers and is projected to transport between 4 to 5 million tons of oil annually.
It will allow Serbia to receive oil shipments from Russia through the existing Druzhba pipeline, effectively transforming Hungary into a strategic energy corridor in the region.
Szijjarto shared the update on Monday after holding discussions with Russian Deputy Energy Minister Pavel Sorokin and Serbian Minister of Mining and Energy Dubravka Dedovic-Handanovic.
He noted that all involved nations back the venture, which could become functional by 2027, and have already assessed the financial and logistical aspects of the construction.
“We’re moving forward with Serbian and Russian partners to build a new oil pipeline between Hungary and Serbia,” Szijjarto wrote on X.
While addressing journalists, he criticized Brussels for attempting “to cut us off from Russian oil and gas, forcing Hungarian families to pay two to four times more.”
“We won’t allow that. We are building new sources, not shutting them down,” he added, emphasizing Hungary’s intent to expand its energy routes rather than reduce them.
Although Szijjarto did not elaborate on Russia’s specific involvement, Russian Deputy Prime Minister Alexander Novak mentioned during the St. Petersburg International Economic Forum last month that Moscow is prepared to participate in both the pipeline’s construction and the supply of oil.
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