Ukraine Stop Transit of Russian Gas to Europe
Ukraine Stop Transit of Russian Gas to Europe – Russian gas exports via pipelines running through Ukraine came to an end on New Year’s Day at 0500 GMT, Wednesday, After Ukraine refused to renew a transit agreement with Russia’s gas firm Gazprom which ends Moscow’s dominance over Europe’s energy markets.
The European Commission confirmed the EU had already prepared for the Russian gas cut-off and most of the states could handle
the situations. However, Moldova, Non EU State, is already suffering oil shortages due to Ukraine Stop Transit of Russian Gas to
Europe.
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The Compressor and distribution station of the Urengoy-Pomary-Uzhgorod gas pipeline. Credit : Sergei Karpukhin/Reuters
Impact of Russian gas Cut-Off
Russia has exporting Natural gas to EU through Ukraine since 1991. For now, Immediate effects are normal, But the strategic impact
for the whole of European states is enormous. That is why Russian president, Vladimir Putin, says EU countries will suffer the most.
The EU state has significantly reduced imports of Natural gas from Russian firm since Russia launched its war with Ukraine in 2022,
but a number of EU states still highly depend on the Russian supplies, due to which Russia makes about $5.2billion a year.
But still some EU member like Slovakia and Austria, likely to continue import of significant amounts of gas from Russia.
Russian gas was less than 10% of the EU’s gas imports in 2023, That figure was 40% in 2021.
