Ukraine Ends Gas Transit Agreement with Russia
Ukraine Ends Gas Transit Agreement with Russia

Ukraine Ends Gas Transit Agreement with Russia

News summary

Ukraine has announced it will not renew its gas transit agreement with Russia once it expires at the end of 2024, as confirmed by Prime Minister Denys Shmyhal during talks with Slovak Prime Minister Robert Fico. This decision aims to impose sanctions on Russian gas and cut off revenues that fund the ongoing war, with Shmyhal urging European nations to completely abandon Russian hydrocarbons. While acknowledging Slovakia's dependence on Russian energy, he expressed hopes for a gradual diversification of supplies. Concurrently, the Ukrainian government is committed to fulfilling its obligations under the EU's Association Agreement and the Energy Charter Treaty. The Kremlin has indicated alternative routes for gas supply to Europe, and analysts warn Ukraine could face annual revenue losses of $1.3 billion due to this decision.

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