This move is part of a broader cessation of Russian energy transit through Ukraine, which also includes the halt of gas transit, the report noted.

The Druzhba pipeline, which has historically delivered Russian oil to several European countries including Slovakia, the Czech Republic, and Hungary, will be impacted by this decision.

Podoliak emphasized that these nations, under a European Union resolution, must diversify their oil supply sources and phase out reliance on transit through Ukraine.

In addition to oil, gas transit volumes contracted with Russia will also end on January 1, 2025. However, Ukraine remains open to facilitating the transit of Kazakh or Azerbaijani gas to Europe, should there be a demand for it.

In a related development, Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó traveled to St. Petersburg, Russia, today. Before his departure from Budapest, he remarked that ensuring the country’s energy supply is a matter of national security.

Update: Naftogaz CEO Casts Doubts Over Oil Transit Halt

Later on Friday, the CEO of Ukrainian state-run energy company Naftogaz, Oleksiy Chernyshov told Bloomberg that Ukraine will remain a reliable transit country for oil to European countries and will fulfill current contracts until they expire.