The flow of Russian natural gas to Europe via Ukrainian pipelines came to an end on January 1 after Moscow and Kyiv were unable to agree on a new transit deal.
This development, which unfolded in the early hours of 2025, is expected to impact Central and Eastern European countries, and is sparking fears of rising energy costs for consumers.
#Russia #Ukraine #gas #energy
This development, which unfolded in the early hours of 2025, is expected to impact Central and Eastern European countries, and is sparking fears of rising energy costs for consumers.
#Russia #Ukraine #gas #energy
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NewsTranscript
00:00New year, new problems. Within just hours of 2025's arrival, Russian energy giant Gazprom
00:07has been forced to stop the flow of natural gas to Europe via Ukraine after Moscow failed
00:13to reach a deal with Kiev. The news was expected. Despite efforts by Slovakia and Hungary to
00:19negotiate, Ukrainian President Volodymyr Zelensky had been adamant the existing five-year deal
00:25would not be extended. Since the Russia-Ukraine conflict began in 2022, the European Union
00:32has diversified its energy supply, reducing Russian gas imports to around 10 percent of
00:37its total, but some member states still depend on Moscow. The decision has effectively cut
00:44off one of the last arteries carrying Russian gas to Europe and is expected to impact Central
00:50and Eastern countries in particular, with Slovakian Prime Minister Robert Fico warning
00:56the stoppage will have a drastic impact.
01:00Nobody, I repeat nobody, is pushing Slovakia away from the living space that is the European
01:06community. But we must see that selfish national interests of the big ones and the meaningless
01:12geopolitical goals are beginning to dominate this community, and on the other hand, ignoring
01:18the needs of smaller ones.
01:22Ukraine's decision means Kiev now faces the loss of some $800 million a year in transit
01:28fees from Russia, while Gazprom will lose close to $5 billion in gas sales, marking
01:34the end of decades of Moscow's dominance over Europe's energy markets. It's also feared
01:40the drop in supply could push up gas and electricity prices in Europe, with countries forced to
01:46seek costlier alternatives and pass the difference on to their customers.
01:50Ray Addison, CGTN.