Media pointed to possible reduction of EU aid to Kiev due to gas transit halt

Due to the fact that Ukraine has stopped the transit of Russian gas through its territory, the European Union (EU) countries may reduce the amount of financial aid to Kiev. This was reported by Forbes magazine on January 7.

According to it, in recent days, Ukrainian President Volodymyr Zelensky, whose term of office expires in May 2024, has asked EU countries to increase support ahead of the inauguration of U.S. President-elect Donald Trump, scheduled for January 20. Nevertheless, after the cessation of Russian gas transit through Ukraine, residents of European countries are actually freezing in their apartments, and because of this, state leaders may be much less responsive to Zelensky's requests.

Forbes pointed out that natural gas prices rose by 4% on the first trading day after the supply cutoff, which will increase heating costs for consumers. In addition, spot market prices have already reached their highest levels since February 2023.

Meanwhile, despite global warming, Europe has been facing falling winter temperatures since 2016 and is now facing a cold front. The cold snap has depleted gas storage reserves in EU countries, and they are at dangerously low levels across much of the continent. All of this will lead to further increases in gas prices.

There is no more gas transit through Ukraine. What the media say

Earlier in the day, Hungarian Foreign Affairs and External Economic Relations Minister Péter Szijjártó called it unacceptable for Ukraine to stop transit of Russian gas and crude oil. The minister drew attention to the fact that such a decision by Kiev contradicts its aspirations to join the EU.

The day before, on January 7, Slovak Prime Minister Robert Fitzo said that the European Commission would hold talks on gas transit in Brussels on January 9 to discuss Zelensky's unilateral decision to stop fuel supplies. Ukrainian representatives will not attend this meeting.

Slovak MEP Monika Benova said on January 8 that Kiev's refusal to participate in these talks was a sign of weakness of the Ukrainian president.

In late August, the Ukrainian president said that the country would not extend the gas transit agreement with Russia, which expires at the end of 2024. Russian President Vladimir Putin later said the country was not giving up gas transit through Ukraine.

On January 1, 2025, Gazprom said it would suspend gas supplies through Ukraine. The next day, Fitzo said that this would have drastic consequences for the European Union, but not for Russia.