Russia’s gas transit to Europe via Ukraine ends after decades, closing a key supply route as the EU diversifies energy sources amid strained relations and economic shifts.
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.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
Afghanistan’s Taliban-led interim government has dismissed a recent United Nations report on the country’s security, human rights, and economic situation, calling it inaccurate and misleading.
Ukrainian President Volodymyr Zelenskyy says Russia handed over 21 bodies in a recent exchange—20 of them were Russian soldiers, and one a foreign mercenary.
India’s Home Minister Amit Shah says the Indus Waters Treaty with Pakistan "will never be restored," accusing Islamabad of violating the agreement.
Israeli fighter jets have destroyed three Iranian F-14s in the latest wave of airstrikes targeting central Iran, according to the IDF.
UFC Fight Night in Baku is underway at Baku Crystal Hall, with the main card scheduled to begin at 11:00 PM.
Afghanistan’s Taliban-led interim government has dismissed a recent United Nations report on the country’s security, human rights, and economic situation, calling it inaccurate and misleading.
Ukrainian President Volodymyr Zelenskyy says Russia handed over 21 bodies in a recent exchange—20 of them were Russian soldiers, and one a foreign mercenary.
India’s Home Minister Amit Shah says the Indus Waters Treaty with Pakistan "will never be restored," accusing Islamabad of violating the agreement.
Israeli fighter jets have destroyed three Iranian F-14s in the latest wave of airstrikes targeting central Iran, according to the IDF.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
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