Ukraine has made a historic decision, and the transit of Russian gas has been stopped: Russia has lost the market

On January 1, Ukraine stopped the transit of Russian gas through its territory.The contract between Gazprom and Naftogaz, which was signed before the start of the great war, has expired.

As explained by the Ministry of Energy, gas transit was stopped at 07.00 on January 1, 2025. Ukraine informed its international partners about this in accordance with the established procedure.

"We have stopped the transit of Russian gas, this is a historic event. Russia is losing markets and will suffer financial losses. Europe has already decided to refuse Russian gas. And the European initiative Repower EU envisages exactly what Ukraine has done today," emphasized Energy Minister Herman Galushchenko.

Since January 1, Ukraine's gas transportation system has been operating in a mode without Russian gas transit. The gas transportation system infrastructure has been prepared in advance for zero transit and reliable gas supply to Ukrainian consumers.

What will be the consequences

According to Reuters, for Ukraine, the termination of transit means the loss of about $800 million in annual income from transit fees. Russia, on the other hand, will lose approximately $5 billion from gas sales to European consumers. European countries have prepared in advance for the cessation of gas supplies through Ukraine:

• Slovakia, the Czech Republic, Austria and other countries have found alternative supply routes;
• Hungary will continue to receive gas through the Turkish Stream pipeline;
• Since 2022, the European Union has significantly reduced its dependence on Russian gas by increasing energy imports from the United States, Norway, and Qatar.

Analysts predict that the termination of transit through Ukraine will not cause a significant increase in gas prices in Europe. Compared to the price spike in 2022, the market is now much more stable thanks to alternative energy sources.

As OBOZ.UA previously reported, Slovak Prime Minister Robert Fico threatened to limit electricity supplies from his country to Ukraine and visited the Kremlin to meet with Russian dictator Vladimir Putin. In response, Zelensky said that Putin had instructed Fico to open a second energy front against Ukraine at the expense of the interests of the Slovak people.

Only verified information on our Telegram channel OBOZ.UA and Viber. Do not fall for fakes!