End of Russian Gas Transit via Ukraine
The cessation of Russian gas transit through Ukraine in January 2024 has reshaped Europe's energy landscape. Ukraine’s refusal to renew its transit deal with Gazprom, compounded by the ongoing conflict, has drastically reduced Russian gas exports to Europe—from 65 bcm annually pre-2022 to below 14 bcm in 2023. This move impacts Russia’s revenues ( billion loss), Ukraine’s transit fees (0 million-
billion), and dependent countries like Austria and Slovakia. Alternative supply routes like TurkStream and increased imports from neighboring nations are mitigating disruptions. Moldova is also affected, facing reduced Russian supplies and diversifying energy sources. The shift underscores geopolitical tensions and the EU's reduced reliance on Russian energy.
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