Ukraine has officially halted the transit of Russian gas to Europe after a key deal with Moscow expired. European nations have prepared alternative supply routes to mitigate disruptions, with imports of liquefied natural gas and pipeline gas from non-Russian sources increasing significantly. Analysts expect a rise in spot gas prices but not a major spike, as the European Union has taken steps to ensure energy stability. Kremlin-owned Gazprom, already grappling with reduced sales to Europe, faces an additional $5 billion loss in gas sales due to the halted transit. Ukrainian President Volodymyr Zelensky called the decision one of Russia's “greatest defeats.”
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Ukraine has officially halted the transit of Russian gas to Europe after a key deal
00:06with Moscow expired. European nations have prepared alternative supply routes to mitigate
00:11disruptions, with imports of liquefied natural gas and pipeline gas from non-Russian sources
00:16increasing significantly. Analysts expect a rise in spot gas prices, but not a major spike,
00:22as the European Union is taking steps to ensure energy stability.
00:26Kremlin-owned Gazprom, already grappling with reduced sales to Europe,
00:29faces an additional $5 billion loss in gas sales due to the halt to transit.
00:35Ukrainian President Volodymyr Zelensky called the decision one of Russia's greatest defeats.