Ukraine Ends Russian Gas Transit Deal, Escalating Energy Strains in Eastern Europe
The expiration of a key gas agreement disrupts supplies to several nations, raising economic and geopolitical tensions across the region.
- Ukraine has halted the transit of Russian gas to Europe as a 2019 agreement expires, citing Moscow's invasion as the reason for non-renewal.
- Moldova, heavily reliant on Russian energy, declared a state of emergency after Gazprom also ceased direct gas deliveries over a financial dispute.
- Slovakia, one of the few EU nations still dependent on Russian gas, criticized Ukraine's decision and threatened to cut electricity exports to Kyiv in retaliation.
- The EU, which has diversified its energy sources since 2022, expects limited impact from the cutoff, as gas transiting via Ukraine accounted for only 5% of its imports.
- Gas prices in Europe surged to their highest levels in over a year, driven by the supply disruption, cold weather forecasts, and increased reliance on costlier liquefied natural gas.
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