Russia Just Lost A Multibillion-dollar Income Stream

Russia can no longer send gas to Europe using Ukraine's pipelines, a network it's used to earn billions even while at war with Kyiv.Contributor/Getty Images and Pier Marco Tacca/Getty ImagesEven while at war, Ukraine has been piping gas for Russia to European customers.But that arrangement, which dates back to the fall of the Soviet Union, has now expired.Russia was estimated to rake in $5 billion in 2024 from the gas transits, with Ukraine getting up to $1 billion.Russia is no longer able to send natural gas to Europe through Ukraine's pipelines after a five-year deal, struck before the war began, expired on Wednesday.It marks the end of a long-standing arrangement that used Ukraine as a conduit for westbound Russian gas — an agreement that continued even as full-scale war broke out in 2022.European countries that received that gas, such as Slovakia and Austria, were paying Russia for this energy.

BING NEWS:
  • Russia just lost a multibillion-dollar income stream
    Even while at war, Ukraine piped Russian gas to Europe. Moscow earned an estimated $5 billion in 2024, while Ukraine raked in up to $1 billion in fees.
    01/1/2025 - 10:09 pm | View Link
  • Russia’s multibillion-dollar revenue stream may soon grind to a halt, thanks to Ukraine. Its ripple effects could hit Europe
    While Russia has lost its gas market share in Europe to the likes of Qatar and Norway since it invaded Ukraine, some countries like Slovakia and Austria still rely heavily on the supplies.
    12/24/2024 - 4:20 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News