Ukraine ceased the transit of Russian natural gas through its territory on January 1. Kyiv has consistently warned that it would not extend the agreement set to expire at the end of 2024, as it does not want to finance Russia’s war. This decision has raised concerns among several EU member states, particularly Hungary and Slovakia, about potential disruptions in the EU energy market.
However, European Commission spokesperson Anna-Kaisa Itkonen emphasised that the EU energy market remains stable. “We have been working intensely for over a year with our member states and with Ukraine to prepare in advance for this scenario,” she stated at a briefing in Brussels on January 6.
Regarding Slovakia, she noted that the Gas Coordination Group held discussions last week and concluded that “there are no security supply issues or concerns for the European Union following the end of the transit.” Itkonen also noted, “The markets had already accounted for the end of the transit agreement, and we have not seen price spikes in the new year.”
While the EU has made significant efforts to reduce its dependency on Russian fossil fuels following the full-scale invasion of Ukraine, many countries still rely on Russian gas.
