Almaty, Oct 28 (IANS) Kazakhstan’s Energy Ministry and Foreign Affairs Ministry are working together to address the implications of US sanctions recently imposed on Russia’s Lukoil energy corporation, the Kazinform news agency reported Tuesday, citing Kazakhstan’s Deputy Energy Minister Sanzhar Zharkeshov.

It was previously reported that the US Treasury Department had announced sanctions on Lukoil, one of Russia’s largest oil producers, in an attempt to pressure Moscow into agreeing to an immediate ceasefire in Ukraine. Following this, Lukoil announced that it would be selling its international assets.

Zharkeshov said that a potential purchase of Lukoil assets in Kazakhstan is being worked out with the Ministry of Foreign Affairs, Xinhua news agency reported.

Nurlan Zhakupov, chairman of the Board of Kazakhstan’s sovereign wealth fund Samruk-Kazyna, said that for Kazakhstan and its national oil and gas company KazMunayGas (KMG), Lukoil “has been and remains a reliable partner.”

Lukoil has been operating in Kazakhstan since 1995. Recently, Lukoil and KMG began implementing the Kalamkas-Sea and Khazar Fields joint development project on the Caspian Shelf.

Last month, the Hungarian Foreign Minister Peter Szijjarto had accused some Western European countries of “hypocrisy”, saying they publicly claim to have stopped importing Russian oil but continue buying it indirectly.

Szijjarto said Hungary accounted for just 2.2 per cent of Russia’s total crude oil exports, while 97.8 per cent is purchased by other countries.

He defended Hungary’s reliance on Russian energy, citing its landlocked geography and stating that an alternative pipeline from Croatia cannot yet ensure full supply for Hungary and neighbouring Slovakia.

Hungary purchases openly Russian oil because it has no alternatives, while some other European countries are secretly importing the same crude through intermediaries at lower prices, Szijjarto has said earlier.

“Let us not be misled by the hypocrites, because among those who shout the loudest at Hungary and Slovakia over their oil purchases, there are a significant number who also buy Russian oil, only indirectly, through certain Asian countries,” Szijjarto said in September.

“They do this to buy cheaper oil. They buy Russian oil secretly because it is cheaper. We buy Russian oil openly because we have no other option,” he added.

–IANS

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