The regulation allowing Bratislava to sell Russian-origin oil products to its neighbor expired on December 5. On Tuesday, Slovak Economy Minister Denisa Sakova said the exemption was extended for one year.
"We have been granted an exemption [from EU's ban] for processing Russian oil. As you know, Russian oil is currently under sanctions, but we are allowed to sell products made from it in Slovakia, and we have also been granted an exemption under which we can export products made from this Russian oil to the Czech Republic," Fico told the InfoVojna broadcaster.
Earlier in the day, Nikolai Tokarev, head of Russian pipeline company Transneft, said that Slovakia and the Czech Republic had asked the EU to allow imports of Russian oil as they could not take it from elsewhere.
In November, Slovak parliamentary speaker Peter Pellegrini warned that oil supplies in Europe could be disrupted if Bratislava's exemption from EU sanctions on Russian oil was not secured. Slovak oil refinery Slovnaft has already invested in changing its technology to process a different type of oil, but the transition is likely to take a while, he added.
After Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow's energy-related income, notably from oil and gas. Moreover, the Ukraine conflict also stopped the flow of Russian gas to Europe, which led to a spike in energy prices and shortages, forcing countries to look for alternatives.