Finance
Putin says there is no time to sign new Ukraine gas transit deal this year
Published by Global Banking & Finance Review®
Posted on December 26, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 26, 2024
2 min readLast updated: January 27, 2026
Putin states no time to sign a new Ukraine gas transit deal this year, blaming Ukraine for not renewing the contract. The current deal expires soon, impacting European gas supply.
MOSCOW (Reuters) - President Vladimir Putin said on Thursday there was no time left this year to sign a new Ukrainian gas transit deal, and laid the blame firmly on Ukraine for refusing to extend the agreement that brings gas to Slovakia, the Czech Republic and Austria.
"They announced that they would not renew the contract," Putin said, adding that Kyiv was punishing Europe by the move.
The current five-year gas transit deal between Russia and Ukraine expires in the end of the year.
"There is no contract and it is impossible to conclude it in 3-4 days," Putin said in a televised briefing.
Russian gas supplies to Europe via Ukraine are relatively small. Russia shipped about 15 billion cubic metres (bcm) of gas via Ukraine in 2023 - only 8% of peak Russian gas flows to Europe via various routes in 2018-19.
The Soviet-era Urengoy-Pomary-Uzhgorod pipeline brings gas from Siberia via the town of Sudzha - which is now under control of Ukrainian military forces - in Russia's Kursk region. It then flows through Ukraine to Slovakia.
In Slovakia, the gas pipeline splits into branches going to the Czech Republic and Austria.
Russia is ready to supply gas via Ukraine to any customer but he said a lawsuit was making that impossible, Putin said.
Putin also reiterated Russia was ready to supply gas to Europe via Poland through the Yamal - Europe pipeline.
(Reporting by Felix Light and Anastasia Lyrchikova; editing by Vladimir Soldatkin and Guy Faulconbridge)
The main topic is the inability to sign a new Ukraine gas transit deal this year, as stated by Putin, with implications for European gas supply.
Putin blames Ukraine for refusing to extend the agreement, leaving no time to sign a new deal before the current one expires.
The expiration of the gas transit deal could impact gas supplies to Slovakia, the Czech Republic, and Austria.
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