EU Braces for Consequences as Russia Halts Gas Transit Through Ukraine
The Slovak Prime Minister, Robert Fico, warned in a video statement on his Facebook page that the disruption of Russian gas transit through Ukraine will have severe consequences for the European Union, not just for Russia. The halt of the transit, which was stopped at 8:00 a.m. Moscow time, will have far-reaching impacts on the EU.
The five-year agreement for the delivery of Russian gas to Western and Central Europe expired on December 31. Russian President Vladimir Putin claimed that Kiev refused to extend the contract, despite Ukraine receiving an annual $700-800 million in revenue. Putin accused Ukraine of being contradictory, as it accepts help from European countries in the war while simultaneously causing problems by blocking access to relatively cheap Russian gas for those countries.
Ukrainian authorities, however, stated that the transit was halted in the interest of national security. Ukrainian Energy Minister German Galuschtschenko said, “This is a historical event. Russia will lose markets, and it will suffer financial losses. Europe has already decided to abandon Russian gas.”
The Kremlin described the sanctions as an instrument of unfair competition, with the US benefiting from the shift to liquefied natural gas. The restrictive measures, the Kremlin warned, will primarily affect the end-consumers in Europe – the population and businesses. Slovakia, which is heavily reliant on Russian gas, is among the countries that will be most severely impacted.