Financial Blow to Gazprom: How Much Russia Will Lose from the Gas Transit Halt.

The Russian economy will incur annual losses of $6.5 billion following Ukraine's blocking of gas transit. This was reported by Newsweek.

The expiration of the gas transit agreement between the Ukrainian company "Naftogaz" and the Russian "Gazprom", which is set to occur this year, will lead to acute losses for Russia. Loss of revenue due to sanctions has already totaled billions of dollars.

Ending the gas transit agreement could have negative consequences. Firstly, it will lead to a loss of revenue for Kyiv, and secondly, it will increase uncertainty regarding Europe's energy supply. Russian President Vladimir Putin has tried to make Europe dependent on Russian gas, using it as a tool of political pressure.

"Zelensky is finally breaking the dependence on Russia by shutting off the valves. Gazprom will lose nearly $7 billion in revenue from this move, in addition to last year's losses of $7 billion - a painful blow to Moscow." - said James Hill, CEO of MCF Energy.

Europe has found other sources of gas imports such as Norway and liquefied natural gas from the USA and other countries. Actual gas imports from Russia have fallen by 90%, and the Gazprom group has suffered significant losses.

Gas transit through Ukraine has also significantly decreased. In 2023, a third of the previous volume of gas was pumped through the route. Ukrainian President Volodymyr Zelensky promises to exclude Russian gas from the country's transit network.

According to estimates, the loss of Ukrainian transit volumes could lead to a loss of $6.5 billion per year.

Ukraine is looking for alternative gas sources such as Azerbaijan and Kazakhstan. However, specific proposals are still absent. Experts emphasize that Europe needs to address the gas supply issue, as it could complicate the situation with energy security.

Ukraine and Europe must take "aggressive" measures to ensure energy security and protect against possible consequences from Moscow if the transit agreement is not extended. Europe could be at risk.

The decision on the transit of Russian gas through Ukraine has already been announced by its president Volodymyr Zelensky.