ADVERTISEMENT

Investing

Slovakia Backs Kyiv’s EU Bid and Wants Gas to Keep Flowing

Robert Fico (Sean Gallup/Photographer: Sean Gallup/Getty )

(Bloomberg) -- Slovakia supports Ukraine’s accession to the European Union, but expects Kyiv to keep gas supplies flowing, even as a transit deal for Russian shipments ends in December. 

Slovakia, together with Austria, are the main customers for the Russian gas still flowing via Ukraine. While those flows are set to halt within three months, both Kyiv and Moscow have said they’re willing to find a solution that could involve swapping Russian supply with gas from Azerbaijan.

Prime Minister Robert Fico, who survived an assassination attempt in May, has denounced military aid to Ukraine and sanctions targeting Russia. The Slovak government also opposes Ukraine’s entry into NATO, saying that such a move could “lead to the outbreak of a third world war.” But Fico backed Kyiv’s EU membership.

“We unconditionally support Ukraine’s membership in the EU,” Fico told his Ukrainian counterpart Denys Shmyhal during a joint government session near Uzhhorod on Monday. “You can count on us.” 

Fico indicated in an interview with Slovak Radio on Saturday that in exchange for this support, he expects Ukraine “to behave normally and reasonably.” “Both Ukraine and Slovakia would benefit from gas transit, as transit fees would be paid,” he said.

Ukraine’s prime minister reiterated that the government doesn’t want Russian gas to flow through the nation’s network. 

“Ukraine will not extend the transit agreement with Russia after it expires,” Shmyhal said. “The strategic goal is to impose sanctions on Russian infrastructure and deprive the Kremlin of the resources it uses to finance the war.”

Despite diversifying its sources of oil and gas, Slovakia wants to remain one of the region’s largest importers of Russian raw materials. Oil and gas transported through Ukraine are cheaper due to lower transit fees. Slovakia also benefits from fees when resources flow further west, particularly to Austria and the Czech Republic.

In July, Fico lauded the self-styled “peace mission” by Hungary’s Viktor Orban to Kyiv and Moscow — which included talks with Russian President Vladimir Putin that prompted a deluge of criticism from EU leaders — saying he would have joined him if he could.

(Updates with Ukrainian premier’s comment from sixth paragraph)

©2024 Bloomberg L.P.