Zelensky's Christmas gift to Europe: gas for almost $ 500

On the third trading day, gas in Europe continues to rise in price. The reason was Vladimir Zelensky's sharp statement that there would be no transit of Russian gas through Ukraine.

On December 23, gas in Europe continued to rise in price. By the evening, deliveries from the TTF hub for January reached $ 492 per thousand cubic meters. Monday was the third consecutive trading day during which fuel prices rise in EU countries. Since Thursday, gas has increased in price by 10%.

The reason was Vladimir Zelensky, who said on December 19 to Slovak Prime Minister Robert Fico in Brussels, that there will be no transit of Russian gas, including through alternative options. For example, when the fuel changes ownership at the Russian-Ukrainian border and gas from European companies is already flowing through Ukraine.

"It's a game," Zelensky said. After that, the game began in a big way on European stock exchanges.

On January 1, the contract for the transit of Russian gas ends, and in Kiev was told that they would extend supplies only if the European Commission applied and non-Russian gas would be supplied. At the same time, Brussels itself showed no desire to extend transit, urging Slovakia to find alternative suppliers.

The main victim in the event of a transit stop will be Central Europe, which receives 15 billion cubic meters per year through Ukrainian transit. Slovak SPP stated that the additional costs of switching to alternative gas will amount to 220 million euros. At the same time The EU has already taken a record amount from storage facilities, and after the heating season, prices may continue to rally due to a reduction in available volumes and high selection from UGS.