End of the Ukraine-Russia Gas Deal: Europe’s Energy Crisis and Fallout

End of the Ukraine-Russia Gas Deal: Europe’s Energy Crisis and Fallout

By Nato Balavadze

22 January 2025

In this paper we discuss:

• The escalating consequences for EU gas prices and supply security from the war in Ukraine;
• The impact on Russia’s economy amid strong energy exports;
• The economic cost of LNG transition; and
• The reactions by Slovakia and Hungary, given their energy leverage against Ukraine.

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Download PDF: Ukraine-Russia Gas – January 2025

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