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Bloomberg Television

Russian gas stops flowing to Europe via #ukraine πŸ’š

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Russian gas has stopped flowing to Europe via Ukraine closing off a critical route that’s operated for five decades both sites confirmed the halt after a key de expired eske refused to allow any Transit def funds moscow’s War Machine it means cental European countries that have relied on the supply will be forced to Source more expensive gas elsewhere adding pressure on supplies and treening to drive up bills for households and Industry while only 5% of the Region’s gas needs depend landed on this route European nations are still recovering from the worst cost of living crisis in decades several Nations have campaigned to keep the fuel flowing with Slovakia one of those that will be hardest hit its largest gas utility estimates it will pay 90 million euros more per year to guarantee stable Imports to different roots and warn that all of Europe will be left more vulnerable in the event of a colder winter Bloomberg calculations show that for Russia the L of pipeline route was l Revenue by about 6 billion a year and Ukraine will also miss out on Transit fees while also giving up on its leld strategic position as a conduit of affordable energy for Western allies there’s no risk of an immediate shortfall in Europe though the stoppage will make stockpiling more challenging ahead of the next winter season

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