Ukraine stopped the flow of natural gas from Russia to Europe, ending a six-decade supply agreement. Gazprom confirmed the pipeline had lapsed due to Ukraine’s refusal to extend the agreement. This move comes as Russia intensifies drone attacks on Ukraine, targeting civilians and energy infrastructure. President Zelenskyy criticized Russia for focusing on hurting Ukraine even on New Year’s Eve. The war-torn country is also facing geopolitical uncertainty with the upcoming change in U.S. administration. Ukraine’s decision to stop the gas transit will result in financial losses for Russia, as well as Ukraine losing transit fees. European countries have diversified their gas supply sources, reducing dependency on Russian gas. However, the halt in gas supply saw natural gas prices in the European Union spike. Moldova, Austria, Slovakia, and Transdniestria may be particularly impacted by the gas cutoff. The Nord Stream gas pipelines remain damaged, leaving only the TurkStream pipeline for gas supply to certain countries. The situation highlights the ongoing conflict between Ukraine and Russia and the broader implications for energy security in Europe.
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Ukraine Shutters Key Gas Pipeline from Russia to Europe
