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Finance

Russia halts gas exports to Europe via Ukraine

Published by Global Banking and Finance Review

Posted on January 1, 2025

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MOSCOW (Reuters) - Russia's energy giant Gazprom said on Wednesday that gas exports via Ukraine to Europe had been halted from 08:00 Moscow time (0500 GMT) as the transit deal has expired.

The shutdown of Russia's oldest gas route to Europe ends a decade of fraught relations sparked by Russia's seizure of Crimea in 2014.

Russia still exports gas via the TurkStream pipeline on the bed of the Black Sea.

The European Union redoubled its efforts to reduce its dependence on Russian energy after the outbreak of the military conflict in Ukraine in 2022 by seeking alternative sources.

The five-year gas transit deal between Russia and Ukraine expired in early hours of Jan. 1, 2025, while Kyiv has repeatedly said it would not extend the agreement amid the war.

"Due to the repeated and clearly expressed refusal of the Ukrainian side to renew these agreements, Gazprom was deprived of the technical and legal ability to supply gas for transit through the territory of Ukraine from January 1, 2025," Gazprom said in a statement on the Telegram messaging app.

"Starting from 08:00 Moscow time, the supply of Russian gas for its transportation through the territory of Ukraine is not carried out."

(Reporting by Vladimir Soldatkin: Editing by Neil Fullick)