As 2024 approaches, Ukraine's President Volodymyr Zelenskyy announced that Ukraine will not renew the gas transit agreement with Russia, aiming to prevent Moscow from "earning additional billions" that fuel its aggression.
Russian President Putin confirmed the termination of the gas contract, attributing the failure to Ukraine's refusal to extend the agreement, indicating a tense standoff amid the ongoing conflict.
The end of Ukraine's gas transit deal raises significant concerns for landlocked Eastern EU countries like Austria, Hungary, and Slovakia, which depend on Russian gas flowing through Ukrainian pipelines.
Historically, European governments prioritized cheap energy from Russia, viewing the relationship as mutually beneficial, even during the Cold War, despite growing geopolitical tensions.
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