Hungary, Serbia agree to build pipeline to ship Russian oil

Hungary and Serbia have agreed to build a pipeline to supply Serbia with Russian Urals crude via the Druzhba oil pipeline as Belgrade's shipments via Croatia fall under EU sanctions, the Hungarian government said on Monday, Report informs, citing Reuters.

"The new oil pipeline would enable Serbia to be supplied with cheaper Urals crude oil, connecting to the Friendship oil pipeline," Hungarian government spokesman Zoltan Kovacs tweeted.

He added that Serbia's oil supply was largely via a pipeline through Croatia, "but this is unlikely to be possible in the future because of the sanctions that have been adopted".