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Slovak Prime Minister Robert Fico warned of a looming gas crisis on Dec. 20 as Ukraine maintained its refusal to extend the transit agreement for Russian gas, set to expire on Dec. 31, Reuters reported. President Volodymyr Zelensky reaffirmed the refusal during a press conference on Dec. 19, saying that Kyiv would not enable Moscow to earn additional revenue while continuing its war. At a European Union summit, Fico criticized Ukraine’s position, saying, “We are demonstrably facing a gas crisis thanks to President Zelensky.”He also suggested that Bratislava might consider “reciprocal measures” if Russian gas transit through Ukraine to Slovakia is halted.Slovakia has a long-term contract with Russia’s state-owned energy giant Gazprom and estimates alternative arrangements could cost an additional €220 million ($228.73 million) in transit fees.The issue highlights ongoing dependence on Russian gas in several EU members, including Slovakia, Hungary, and Austria, despite efforts to diversify energy sources following Russia’s full-scale invasion.Earlier this year, the EU implemented its first sanctions targeting the Russian gas industry, focusing on liquefied natural gas (LNG).Russian President Vladimir Putin also addressed the matter during his annual press conference on Dec. 19, confirming the end of the contract and expressing confidence in Gazprom’s resilience. “This contract will no longer exist. Everything is clear. We will survive, Gazprom will survive,” Putin said.Slovakia, which has a long-term contract with Russian oil giant Gazprom has been trying to keep receiving gas through Ukraine, saying buying elsewhere would cost 220 million euros ($228.73 million) more in transit expenses.Russia keeps key interest rate at 21%, defying expert expectationsTo rein in accelerating inflation fueled by war spending, Russia’s Central Bank has been raising its interest rate — from 7.5 percent in July 2023 to the current 21% – the highest level since the early 2000s.
Tim Zadorozhnyy
Tim Zadorozhnyy is a news editor at The Kyiv Independent. Based in Warsaw, he is pursuing studies in International Relations, focusing on European Studies. Tim began his career at a local television channel in Odesa. After moving to Warsaw, he joined the Belarusian opposition media outlet NEXTA, starting as a news anchor and later advancing to the position of managing editor.Read more
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