Finance
Slovak PM Fico warns of gas crisis without Ukraine transit route
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
Slovak PM Fico warns of a gas crisis as Ukraine refuses to extend Russian gas transit, impacting Slovakia's energy costs and supply.
(Reuters) - Slovakia's Prime Minister Robert Fico warned of a gas crisis on Friday as Ukraine continued to reject extending the transit of natural gas through its territory after a contract expires at the end of the year.
Ukraine has repeatedly said it would not continue a gas transit deal with Russia as the two countries are at war.
Slovakia, which has a long-term contract with Russian oil giant Gazprom, has been trying to keep receiving gas through Ukraine, saying buying elsewhere would cost it 220 million euros ($228.73 million) more in transit expenses.
Fico pushed the subject on Thursday at a European Union summit in Brussels, which was also attended by Ukrainian President Volodymyr Zelenskiy who reiterated that his country would not continue the transit of Russian gas.
"We are demonstrably facing a gas crisis thanks to President Zelenskiy," Fico said at the start of a news conference in Bratislava on Friday, without elaborating.
Fico had spoken before the EU summit of alternative setups in which the gas Ukraine is transiting would not be Russian but owned by someone different.
But directly after the summit, Fico said late on Thursday that Zelenskiy had ruled out any gas transit. Fico also rejected Zelenskiy's suggestion that Kyiv could consider continued transit of Russian gas on the condition that Moscow does not receive money for the fuel until after the war.
The European Commission has said it has no interest in continuing Russian gas flows via Ukraine.
Fico said he could not rule out that Slovakia might have to "think about reciprocal measures" without the gas transit.
Slovakia has provided energy to Ukraine in recent years, such as electricity and diesel supplies, and provides humanitarian aid for its neighbour.
But Fico has stopped state military aid to Kyiv, has said the war with Russia does not have a military solution and has criticised sanctions against Moscow.
Slovakia says stopping gas flows at the start of 2025 would not threaten its supplies due to sufficient storage, but it would hit transit operations and has warned it would impact market prices.
($1 = 0.9618 euros)
(Reporting by Jason Hovet in Prague, additonal reporting by Kate Abnett in Brussels; Editing by Susan Fenton)
The main topic is Slovakia's potential gas crisis due to Ukraine's refusal to extend the Russian gas transit route.
Ukraine refuses to extend the gas transit due to its ongoing conflict with Russia.
Slovakia may face increased energy costs and supply issues without the Ukrainian transit route.
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