Russia Oil to Europe Not Jeopardized by Ukraine Talks

Russia will continue exporting oil to Europe even if no agreement is reached with Ukraine by Jan. 1 over proposed changes in oil transit accords, Deputy Prime Minister Igor Sechin said.

“There won’t be any problem with crude shipments,” Sechin told reporters in Vladivostok today.
The European U-nion yesterday called on Russia and Ukraine, a major transit nation for oil and gas bound for Europe, “to ensure uninterrupted oil supply.” State-run NAK Naftogaz Ukrainy told Russian pipeline operator OAO Transneft this month it wants to change the conditions under existing oil transit agreements and an increase in transit tariffs, Sechin said.

Russia has notified the European Commission, Slovakia, Hungary and the Czech Republic of the development, Sechin said.

BusinessWeek