Russian Oil Company Denies Reports it Would Halt US Shipments

Russia and European powers took a step back from confrontation over Georgia on Friday, with Moscow urging the EU not to rush into punitive action and France saying now was not the time for sanctions.

The Daily Telegraph broke the story that the government had made the call to at least one oil company, with LUKOIL – Russia’s second-largest oil producer - widely suspected to be the likely recipient on the other end of the line. Both Moscow and LUKOIL have firmly denied the accusations that they are about to cut supplies to Germany and Poland through the Druzhba pipeline.

Russia's second-largest oil producer, LUKOIL, denied the report. The country's energy minister said Moscow was doing everything it could to ensure stable oil supplies to Europe and to keep its good name as an energy supplier.