Ukraine Halts Gas Transit
Ukraine stopped Russian gas supplies to Europe on Wednesday after a pre-war transit deal expired.
Ukraine’s Energy Minister, Herman Halushchenko, stated the decision was made for national security reasons.
This move marks a significant shift, as it cuts off a key revenue stream for Russia and aligns with Europe's plan to phase out Russian gas.
Ukrainian President Zelenskyy had previously vowed not to let Russia profit from gas transit during the war.
There was a brief possibility of continuing gas flows if Russia's payments were withheld until the war ends, but this option was rejected.
Impact on Russia and Europe
Russia’s state-owned Gazprom claimed it could no longer send gas through Ukraine due to Kyiv’s refusal to extend the deal.
Before the war, Russia supplied nearly 40% of the EU's natural gas via pipelines, including through Ukraine.
Energy Crisis in Europe
After Russia cut off supplies through certain pipelines, Europe faced an energy crisis.
Germany had to invest billions in floating LNG terminals, and gas prices soared.
Norway and the U.S. became the primary suppliers, stepping in to fill the gap left by Russia.
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