Fears of New Energy Crisis Rekindled in Europe as Russia Ceases Gas Supply Via Ukraine

https://sputnikglobe.com/20250101/fears-of-new-energy-crisis-rekindled-in-europe-as-russia-ceases-gas-supply-via-ukraine-1121326804.html

Fears of New Power Disaster Rekindled in Europe as Russia Ceases Fuel Provide Through Ukraine

Sputnik Worldwide

Fears of a brand new vitality disaster have been rekindled in Europe with the top of Russian gasoline provide via Ukraine.

2025-01-01T12:17+0000

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european union (eu)

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gasoline

gasoline costs

gasoline transit

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Fears of a brand new vitality disaster have been rekindled in Europe with the top of Russian gasoline provide via Ukraine. The winding down of low cost and dependable Russian gasoline transit will gas vitality prices, inflationary pressures, and the cost-of-living disaster, consultants cited by Xinhua have warned. “If there’s a disaster in vitality provide, Europe would be the most affected and this can weaken its financial energy much more,” Croatian political analyst Robert Frank famous.The cessation of Russian gasoline transit “will possible intensify value pressures for Slovenian industries, and by extension, increase shopper costs,” pressured Joze P. Damijan, professor of economics on the College of Ljubljana.Europe nonetheless hasn’t recovered from its shortsighted transfer to drastically minimize its dependence on Russian gasoline, which had triggered an enormous spike in inflation and financial slowdown. Gazprom ended gasoline transit via Ukraine on January 1 following the expiration of the five-year contract with Naftogaz. The Urengoy-Pomary-Uzhgorod pipeline had transported about 15.5 billion cubic meters of gasoline final 12 months, accounting for about 4.5% of the entire gasoline consumption within the EU, in response to Gazprom. Moldova and 4 EU nations – Slovakia, Austria, Italy, and the Czech Republic – acquired Russian gasoline by way of this route. Balkan Stream, fed by the Turkish Stream pipeline, now stays the one supply of Russian pipeline gasoline for Europe. It delivers gasoline to Romania, Greece, North Macedonia, Serbia, Bosnia and Herzegovina, and Hungary.

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russian gasoline provides, russia stops gasoline transit, gasoline transit via ukraine, why is russia halting gasoline exports, how a lot russian gasoline does europe purchase, europe, gasoline costs, gasoline futures, russian gasoline, russian gasoline transit, russian gasoline transit via ukraine

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Provides of Russian gasoline by way of Ukraine ended at 8:00 a.m. Moscow time (05:00 GMT) on January 1, in response to a contractual doc on gasoline transit between Gazprom and Naftogaz. The Kiev regime had repeatedly said it had no intention to increase the transit settlement.

Fears of a brand new vitality disaster have been rekindled in Europe with the top of Russian gasoline provide via Ukraine.

The winding down of low cost and dependable Russian gasoline transit will gas vitality prices, inflationary pressures, and the cost-of-living disaster, consultants cited by Xinhua have warned.

“If there’s a disaster in vitality provide, Europe would be the most affected and this can weaken its financial energy much more,” Croatian political analyst Robert Frank famous.

The cessation of Russian gasoline transit “will possible intensify value pressures for Slovenian industries, and by extension, increase shopper costs,” pressured Joze P. Damijan, professor of economics on the College of Ljubljana.

❌ RUSSIA CEASES GAS SUPPLY THROUGH UKRAINE AS OF 8:00 MOSCOW TIME ON JANUARY 1 – GAZPROM

Gazprom introduced that it now not has the technical or authorized skill to transit gasoline via Ukraine following the expiration of the five-year contract.

With this improvement, the Balkan… pic.twitter.com/AdxKlWMzfM

— Sputnik (@SputnikInt) January 1, 2025

Europe nonetheless hasn’t recovered from its shortsighted transfer to drastically minimize its dependence on Russian gasoline, which had triggered an enormous spike in inflation and financial slowdown. Gazprom ended gasoline transit via Ukraine on January 1 following the expiration of the five-year contract with Naftogaz.

The Urengoy-Pomary-Uzhgorod pipeline had transported about 15.5 billion cubic meters of gasoline final 12 months, accounting for about 4.5% of the entire gasoline consumption within the EU, in response to Gazprom. Moldova and 4 EU nations – Slovakia, Austria, Italy, and the Czech Republic – acquired Russian gasoline by way of this route.

Balkan Stream, fed by the Turkish Stream pipeline, now stays the one supply of Russian pipeline gasoline for Europe. It delivers gasoline to Romania, Greece, North Macedonia, Serbia, Bosnia and Herzegovina, and Hungary.