Russian President Putin: Ukraine is imposing sanctions on the EU.
Kyiv has announced it will stop transiting Russian gas to the EU from January 1, 2025.
According to RT, Russian President Vladimir Putin announced on December 26 that Ukraine is punishing the European Union (EU) by refusing to renew the gas transit agreement from Russia to the bloc. Putin warned that Kyiv's decision would result in European consumers having to buy energy at higher prices.
The contract between Moscow and Kyiv, which guarantees the transit of natural gas through pipelines to the EU, is set to expire on December 31st. The Ukrainian leadership has repeatedly warned that it has no plans to renew the agreement, despite calls from several EU member states. Ukrainian Prime Minister Denis Shmigal stated that the flow of gas through the transit network will cease on January 1st, 2025.
Speaking to reporters on December 26, Russian President Putin said that Kyiv was "biting the hand that feeds it" with Europe, because without European support, Ukraine could not even survive, let alone fight.
"Now, the Ukrainians are punishing Europe by terminating our gas supply contract...", the Russian leader said.
The Russian president warned that European gas prices have risen to $500 per 1,000 cubic meters and will continue to rise once the transit agreement expires, noting that, "we are not provoking this, it is their policy."
Putin emphasized that Russia has always supported the "depoliticization of economic issues" and does not interfere in the supply of natural gas to the EU.
He added that Russia is still maintaining gas transit through Ukraine. "We have been supplying regularly and have paid, and are still paying for, transit fees," he emphasized.
According to him, Moscow is ready to supply gas through Ukraine under contract with any partner, but an agreement cannot be reached within 3-4 days.
A five-year transit agreement between Russian energy giant Gazprom and Ukrainian national energy company Naftogaz was signed in 2019. This agreement stipulates that Gazprom will transit 65 billion cubic meters (bcm) of gas through Ukraine in 2020 and 40 bcm annually during the period 2021-2024.
Gazprom, once the EU's main gas supplier, sharply reduced its exports to the bloc in 2022 following sanctions imposed on Russia and sabotage of the Nord Stream pipelines.
According to the latest data, the EU still receives about 5% of its natural gas from Russia via Ukraine. Ukraine's transit network connects with the pipeline systems of Moldova, Romania, Poland, Hungary, and Slovakia.
Earlier this month, Slovakia's state-owned energy company SPP, along with energy operators from Austria, Hungary, and Italy, signed a statement supporting the continued transit of Russian gas, describing it as "the best solution not only for gas consumers in Europe but also for Ukraine itself."
The EU announced its intention to end its dependence on Russian energy supplies after the Ukraine conflict escalated in 2022. According to RT, higher-priced fuel supplies from the US have largely replaced the previously cheaper pipeline gas supplied by Russia.