Gas exports: Vladimir Putin shatters last hope of new deal with Ukraine
Vladimir Putin has condemned Ukraine’s decision to refuse an extension of the agreement allowing Russian gas to transit to several European countries.
Earlier this month, Kyiv announced that the deal, set to expire at the end of the year, would not be renewed—a significant blow to Austria, Hungary, and Slovakia, which receive gas directly from Russia.
Starting in January 2025, these three countries will need to find alternative supply routes. This stalemate has already caused a 5% spike in gas prices, as reported by Bloomberg on Friday.
Since the start of the war in Ukraine in February 2022, Russian gas exports have declined due to Western sanctions.
Gas exports remain a critical source of revenue for Russia, with the country relying on these funds to sustain its war efforts.
(QG - Newsweek / Bloomberg / Picture: © Pixabay)