Russia Cuts Off Gas Supply to Europe Through Ukraine, Citing Expired Transit Deal
In a move that has significant implications for the global energy market, Russia's state-owned energy company Gazprom announced on Wednesday that it has stopped exporting gas to Europe via Ukraine, effective 08:00 Moscow time (0500 GMT). This development marks the end of a decade-long tumultuous relationship between Russia and Europe, triggered by Russia's annexation of Crimea in 2014. The shutdown of Russia's oldest and most established gas route to Europe has sparked concerns about energy security and the potential consequences for European economies, particularly during a time of heightened geopolitical tensions and rising energy demands. As the European Union continues to navigate its energy landscape, the focus is now on finding alternative gas suppliers and investing in renewable energy sources to mitigate the impact of this shutdown. With the expiration of the transit deal, the future of Russia-Europe energy relations remains uncertain, and the situation is being closely monitored by industry experts and policymakers alike, with key terms like energy crisis, gas exports, and European energy security being closely watched.
