Russia-Ukraine Gas Transit Deal Ends: Implications for Europe’s Energy Market

As of January 1, 2025, Russia has officially stopped supplying gas to the European Union through Ukraine. The five-year transit deal between Russian energy giant Gazprom and Ukraine’s state energy company, Naftogaz, expired on December 31, 2024, with no extension agreed upon. The cessation has significant consequences for European energy security and market stability. Background: […]