Gazprom prepares to stop gas transit through Ukraine in 2025.

The gas giant 'Gazprom' plans to stop gas transit through Ukraine after 2024, reports Reuters.

Ukraine announced its intention to terminate the transit contract, which will lead to a cessation of gas supplies from Russia to Europe. This cooperation has lasted for over 50 years.

Despite Ukraine receiving up to $1 billion annually from transit fees, Kyiv has decided to terminate cooperation.

'Gazprom' is sending mixed signals. On one hand, the company hints at the possibility of extending the transit, on the other hand, its plans foresee a complete halt to supplies through Ukraine.

It should be noted that Russia is no longer the main supplier of gas to Europe due to sanctions and the European Union's attempts to reduce dependence. Especially after the explosion of the 'Nord Stream' pipeline in 2022.

According to sources close to 'Gazprom', a decrease in the export of Russian gas to other countries is expected by 20% to 39 billion cubic meters in 2025, compared to 49 billion cubic meters in 2024.

There are also reports of massive reductions in production at Russian refineries.