A historic shift in Europe’s energy landscape: Russian gas exports through Ukraine have officially stopped as the decades-old transit deal expired on New Year’s Day. Once a key link for half of Russia's gas exports to Europe, this halt marks a major step in Europe’s move away from Russian energy amid the ongoing war.
While TurkStream continues to supply parts of Central Europe, the financial blow to Russia—$5 billion annually—is undeniable. Europe has been preparing by diversifying suppliers and boosting resilience, but smaller nations like Moldova face significant challenges.
What does this mean for Europe’s energy independence? Let’s explore the impact and the road ahead.
Location: London
WooGlobe Ref : WGA474105
For licensing and to use this video, please email licensing@wooglobe.com
While TurkStream continues to supply parts of Central Europe, the financial blow to Russia—$5 billion annually—is undeniable. Europe has been preparing by diversifying suppliers and boosting resilience, but smaller nations like Moldova face significant challenges.
What does this mean for Europe’s energy independence? Let’s explore the impact and the road ahead.
Location: London
WooGlobe Ref : WGA474105
For licensing and to use this video, please email licensing@wooglobe.com
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00:00Big changes in Europe's energy landscape
00:02Russian gas exports through Ukraine have officially stopped.
00:06The decades-old transit deal expired on New Year's Day,
00:09marking a turning point in Europe's move away from Russian energy.
00:13Ukraine's energy minister calls it a historic event,
00:16as the nation firmly refuses to extend the deal amidst the ongoing war.
00:21This halt severs a major link that once carried half of Russia's gas exports to Europe.
00:27Russia isn't entirely out of the European market.
00:30Gas still flows through the TurkStream pipeline,
00:33supplying Turkey and parts of Central Europe, including Hungary and Serbia.
00:38But for Moscow, the financial hit is massive—
00:41$5 billion in annual sales, gone.
00:45Europe, meanwhile, has been preparing.
00:47Since 2022, it's been reducing dependence on Russian gas,
00:51securing alternative suppliers, and boosting energy resilience.
00:55Slovakia, Austria, and others have already adapted,
00:59but smaller nations like Moldova are feeling the strain.
01:02The halt of gas through Ukraine underscores a deeper shift.
01:06Decades of reliance on Russian energy are fading,
01:09reshaping the continent's energy future.
01:12What comes next?
01:14Europe's push for independence will continue,
01:16but the journey is far from over.
01:19Stay tuned for more updates on this evolving story.