Hungary tries to save Lukoil subsidiary from EU sanctions

This is Dubai-based Litasco, which is linked to financing the Russian “shadow fleet”.

Hungary does not plan to block the 17th package of EU sanctions against Russia, but is trying to get one company, Litasco, which is a Dubai-based “daughter” of the Russian oil giant Lukoil, to be excluded from it. This is reported by Radio Liberty.

Litasco appears on the sanctions list due to its participation in financing the acquisition of vessels that the European Union has identified as part of the Russian “shadow fleet” — a scheme that allows the Kremlin to trade oil bypassing Western restrictions.

According to sources, Budapest is generally not opposed to the adoption of the entire package, but is actively lobbying the interests of the Russia-linked company.

In addition, heated discussions are ongoing among European officials regarding the possible inclusion of six Chinese companies, including Poly Technologies and Skywalker Technology, on the list. The first, according to intelligence, supplied components for Russian helicopters, and the second is involved in the production of Russian Gerber drones. These fake drones, without explosives, are used to distract Ukrainian air defense during massive attacks by strike UAVs.

Also, the day before, USM reported that the transshipment of oil through the port of Indonesia allows the Russian Federation to circumvent sanctions.