Russia, 5 Other East-European Countries Sign Agreement for Transporting Russia's Oil

On Monday, in Zagreb, Russia, Ukraine, Belarus, Croatia, Hungary, and Slovenia signed an intergovernmental agreement 'On Measures to Integrate the Adria and Druzhba pipelines'. The agreement provides for 'the creation of a maximally convenient routes to transport Russia's oil from Bryansk, Russia, to the Omshal port in Croatia.

According to Croatia's Ministry of Economy, the agreement is extremely important for the development of the whole Balkans region. Experts believe that once the agreement is implemented, Russia will be able to considerably increase the amount of oil pumped through Croatia while maximally cutting transportation costs.