Russia Warns of Higher Gas Prices for Europe if Ukraine Transit Deal Ends

European consumers may face higher gas prices if the current contract for Russian gas transit through Ukraine is not renewed after it expires on December 31. This warning was issued by Dmitry Peskov, spokesman for Russian President Vladimir Putin, and reported by the state-run TASS news agency.

Peskov emphasized that Ukraine's decision not to extend the contract would significantly harm the interests of European consumers, leading to much higher gas prices. This increase, he warned, could reduce the competitiveness of European industries.

Ukrainian officials have consistently stated that they do not intend to renew the gas transit agreement with Russia. President Volodymyr Zelensky reiterated this position yesterday but expressed willingness to discuss potential requests from European companies.