Moscow, Kyiv end Russian gas transit to Europe via Ukraine

Moscow: So, it looks like the gas flow from Russia to Europe through Ukraine has officially stopped. This is a big deal since it’s been happening for decades. Both Moscow and Kyiv confirmed the halt, and it’s all tied to the ongoing conflict between them.

For years, Russian gas has been flowing through Ukraine, bringing in cash for both countries. But with the latest contract ending, Ukraine decided not to renew it after Russia invaded last year. They’re calling this a “historic event,” saying it’ll hit Russia where it hurts financially.

On the flip side, Russia is saying Ukraine is making a mistake and that it’ll hurt countries in Eastern Europe that still rely on that gas. It’s interesting because, even though Russian gas used to make up a huge chunk of the EU’s imports, it’s now down to less than 10%.

Ukraine’s Energy Minister made it clear: “We have stopped the transit of Russian gas.” He believes this will lead to financial losses for Russia. Gazprom, the Russian energy giant, confirmed that they can no longer send gas through Ukraine.

With this change, gas prices in Europe have already started to rise. Some countries might have to dig into their reserves or look for other sources like liquefied natural gas. Hungary, though, seems to be in a good spot since it gets most of its gas through a different route that doesn’t go through Ukraine.

Brussels is trying to reassure everyone that they’ve been preparing for this scenario for a while now. They’ve been working on plans to manage without Russian gas from Ukraine, so they’re not too worried about the impact.

Meanwhile, Kyiv is still frustrated with countries that keep buying Russian oil and gas, accusing them of funding the invasion. Energy money is crucial for Russia, and with Western sanctions, they’re shifting their focus to Asia for exports.

In another twist, Gazprom also announced it would stop gas supplies to Moldova, which is now facing a state of emergency over potential power shortages. Moldova relies on Russian gas for its electricity, so this could get tricky for them.