Russia’s long-standing gas supply to Europe via Ukraine, active for decades, will end on New Year’s Day as the contract between the two nations collapses. This deal had generated billions in revenue for Moscow and transit fees for Kyiv.
The closure signifies the end of Russia's longest-running gas route to Europe, coinciding with a decade of strained relations following the 2014 events in Crimea. In response to the 2022 conflict in Ukraine, thea EU increased efforts to diversify its energy sources, turning to liquefied natural gas (LNG) from Qatar and the U.S., as well as pipeline supplies from Norway.
In 2022, Gazprom, Russia's state-controlled gas exporter, recorded its first loss since 1999, losing $7 billion despite boosting exports to China. Slovakia and Austria, previously reliant on Russian gas via Ukraine, have secured alternative supplies through Italy and Germany, ensuring consumer needs. Slovakia, however, faces €177 million ($184 million) in additional fees for these routes.
The European Commission highlighted enhanced LNG import capacity, energy efficiency measures, renewable energy development, and a flexible gas system as key to mitigating the impact.
Analysts expect minimal market disruption, as the remaining Russian volumes via Ukraine are small, and European gas prices saw little movement.
Ukraine stands to lose $800 million annually in transit fees, while Gazprom will forgo $5 billion in sales. Moldova, heavily affected, plans to cut its gas use by a third. The EU has faced higher energy costs, hitting industrial competitiveness, exacerbating inflation, and worsening the cost-of-living crisis.
Other Russian pipelines, such as Yamal-Europe via Belarus and Nord Stream to Germany, have also ceased operations.
Once supplying 201 billion cubic meters of gas annually at their peak in 2018, Russia shipped only 15 bcm via Ukraine in 2023, down from 65 bcm in 2020. TurkStream, crossing the Black Sea, remains Russia's sole active route, supplying Türkiye, Hungary, and Serbia.
Hungary and Slovakia face challenges in paying for Russian gas due to new U.S. sanctions on Gazprombank, risking supply disruptions without a legal solution.
The permitted duration of stay for Russian citizens in Azerbaijan has been reduced from 180 days to 90 days.
The Kremlin has declined to comment on the Azerbaijani Airlines plane crash in Kazakhstan, saying that they are waiting for the official investigation results.
Flights from Baku to several Russian cities are suspended from December 28 due to safety concerns. Affected passengers can request a full refund or free ticket exchange.
China discovers a new lunar crystal, Changesite-(Y), containing helium-3, a potential game-changer for clean nuclear fusion energy, intensifying the race to mine the moon.
The U.S. Surgeon General calls for cancer risk warnings on alcohol labels, highlighting links to seven cancers and urging updated consumption guidelines.
Germany faces calls for stricter fireworks regulations after New Year’s Eve chaos left 5 dead, dozens injured, and over 400 arrests in Berlin.
BYD surpassed Tesla in fourth-quarter EV deliveries, with a 13.1% sales increase, while Tesla saw a 5% rise.
AZAL has released the crew list for flight J2-8243, which crashed in Aktau today.
Farid Huseynov, Head of the AZAL Press Department, has confirmed that a total of 67 people were on board the plane involved in the recent incident, including 62 passengers and 5 crew members.
Germany faces calls for stricter fireworks regulations after New Year’s Eve chaos left 5 dead, dozens injured, and over 400 arrests in Berlin.
Belgium strengthens ties with Türkiye, marking 60 years of cooperation. Support for EU accession, trade growth, Syria’s reconstruction, and a call for peace in Israel-Palestine.
Fire engulfs an 8-story building in Seongnam, South Korea; 12 hospitalized for smoke inhalation, 30 rescued as firefighters deploy 82 vehicles to control the blaze.
Ghana's parliament approves a $4.65 billion provisional budget, averting a shutdown as John Mahama prepares to take office amid economic and energy sector challenges.
China discovers a new lunar crystal, Changesite-(Y), containing helium-3, a potential game-changer for clean nuclear fusion energy, intensifying the race to mine the moon.
The U.S. Surgeon General calls for cancer risk warnings on alcohol labels, highlighting links to seven cancers and urging updated consumption guidelines.
Germany faces calls for stricter fireworks regulations after New Year’s Eve chaos left 5 dead, dozens injured, and over 400 arrests in Berlin.
BYD surpassed Tesla in fourth-quarter EV deliveries, with a 13.1% sales increase, while Tesla saw a 5% rise.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment