Hungary's main oil conglomerate says it will pay an outstanding bill owed by Russia's oil pipeline operator. Analysts described the financial arrangement as an unexpected boomerang effect of sanctions imposed on Moscow. Ukraine pledged to resume deliveries of Russian crude to the three countries, Hungary, Slovakia and Czech Republic.

The three countries had lobbied for oil delivered by pipeline, as opposed to by tankers. All three rely heavily on Russian oil to fuel their economies. MOL, which is one of the country's biggest and most profitable companies, announced in April that it would pay dividends of $652 million to shareholders.

This month, Mr. Orban’s government was forced to scrap a price cap on power for higher-use households. Hungary, along with Slovakia and Czech Republic, sits at the end of the southern arm of the Druzhba pipeline. The price of energy continued to climb.

Germany and Poland, at the northern end of the pipeline, have stopped purchasing Russian crude and instead have begun buying it from other providers. A tanker carrying a shipment of U.S. sour crude, which is similar in grade to the Russian oil delivered through the Druzhba pipeline, arrived at the German port of Rostock.
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