AssetID: 54410059
Headline: UNCAPTIONED: Russian Gas Transit to EU Via Ukraine Ends Amid Ongoing War
Caption: Russian gas supplies to the European Union via Ukraine have officially stopped following the expiration of a five-year gas transit deal on 1 January, Sky News reports. Ukraine’s energy minister, German Galushchenko, called the halt a "historic event," emphasizing Russia’s financial losses and Europe’s decision to move away from Russian gas. The transit stoppage is expected to cost Russian gas giant Gazprom approximately $5 billion (£3.9 billion) in lost sales. Russia continues to export gas via the TurkStream pipeline in the Black Sea, supplying Turkey and central European nations like Hungary and Serbia. The European Commission stated that the EU was well-prepared for the halt, with gas infrastructure ready to provide alternative non-Russian supplies. Slovakia, one of the remaining buyers of Russian gas, plans to use pipelines from Germany and Hungary, though this will incur additional costs. Austria’s energy minister confirmed the country’s readiness for the stoppage, while Slovakia’s Prime Minister Robert Fico warned of a "drastic" impact on the EU. Moldova, which is not part of the EU, announced it would cut gas usage by a third, while the pro-Russian region of Transnistria has reduced heating and hot water services. Ukraine will also face significant economic consequences, losing around $800 million (£637 million) annually in gas transit fees. The EU has redoubled efforts to reduce reliance on Russian energy since the invasion of Ukraine, seeking alternative sources to ensure long-term energy security. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Russian,Gas,Ukraine,Fees,Taxes,Money,Ongoing,War,Ends,Invasion,Expiration,Five Year,Deal,Transit,January,European Union,Politics,Moldovia,Austria,Gazprom,Hungary,TurkStream,Gas Infrastructure,European Commission
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