Ukraine Halted The Flow Of Russian Natural Gas To Europe

Ukraine refused yesterday to renew an agreement that allowed the country’s territory to be used as a corridor for Russian gas to travel to Europe, according to officials in both countries, NYT reports.

The move is part of a broader campaign by Ukraine and its Western allies to undermine the ability of Russia to fund its war effort, but there are risks. Moscow could retaliate by bombing Ukraine’s pipelines, a vast network that has been largely spared over the past three years of conflict. Europe was prepared for the move, so analysts expect little effect on gas prices there. Hungary, Austria and several Balkan countries still use Russian gas delivered through Ukraine, but experts say that existing stockpiles and alternative supplies should prevent cuts to electricity and heating in those countries. Slovakia, which is still heavily dependent on Russian gas, threatened to retaliate against Ukraine.