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The dispute is over the Nord Stream 2 Gas pipeline and other disputes such as Yamal-Europe pipeline that usually sends Russian gas to Western Europe was flowing in reverse. [17] On 1 January 2025, Ukraine terminated all Russian gas transit through its territory, after the contract between Gazprom and Naftohaz signed in 2019 expired. [18] [19]
EUR/Ruble exchange rate (Rubles per Euro. On 23 March 2022, Russian President Vladimir Putin announced payments for Russian pipeline gas would be switched from "currencies that had been compromised" (that is, US dollar and euro) to payments in roubles when the transaction involved a country formally designated "unfriendly" previously, which included all European Union states; on 28 March, he ...
Russian gas is no longer flowing to EU states through Ukraine following the expiration of a five-year deal, closing an energy route that has existed since the end of the Soviet Union in 1991.
Russia shipped some 15 billion cubic metres of gas via Ukraine in 2023, about 8% of peak Russian gas flows to Europe via various routes in 2018-2019, according to data compiled by Reuters.
Now, after its expiry, Europe receives pipeline gas from Russia via a single route: The Turkstream pipeline, which runs through Turkey and on to Bulgaria, Serbia and Hungary, says Bruegel.
January gas supplied by Russia to Europe was 1.7b m3 compared with 13b m3 average per month for the 2021 year. [32] The price of natural gas in Europe fell to an 18-month low in mid February of €49pmh with gas storage across the European Union at 65% capacity, well above the average of 45% at this time of year. [33]
Russia's share of the EU pipeline natural gas market dropped sharply to about 8% in 2023, according to data from the EU Commission. The Ukrainian transit route served EU members Austria and Slovakia, which long got the bulk of their natural gas from Russia but have recently scrambled to diversify supplies.
European gas imports from Russia in 2021, with breakdowns. Russia supplies a significant volume of fossil fuels to other European countries. In 2021, it was the largest exporter of oil and natural gas to the European Union, (90%) [1] [2] and 40% of gas consumed in the EU came from Russia. [3] [4]