Russia Loses Big with Ukraine‘s Gas Move
The US is celebrating a big win after Ukraine stopped Russian gas from passing through its territory. This means Russia can’t sell as much gas to Europe, which will cost them around $6.5 billion each year.
Ukraine made this decision because it doesn’t want to help pay for Russia’s war efforts. The US National Security Council spokesperson, John Kirby, said that this is one of Moscow’s biggest losses. He also mentioned that the US is trying to make Russia suffer by putting more sanctions and restrictions on their exports.
Europe gets a lot of its gas from the US now. In fact, 50% of all liquefied natural gas (LNG) imports come from America. This means Europe has some protection against Russian gas cuts.
Ukraine’s decision will also affect Moldova’s Transnistria region. They relied on Russian gas to pass through Ukraine but can’t get it anymore because of the halt in Russian gas transit. Russia claims that Moldova owes them money and that’s why they stopped the gas, but Ukraine says it was due to their own policy.
Gas prices in Europe have risen by 4.3% since Ukraine stopped Russian gas transit. This is the highest increase since October last year. The US is trying to help Europe by increasing energy supplies, especially LNG.