Austria says Russia to cut off gas from Saturday
LONDON/VIENNA - Russia told Austria on Friday it will suspend gas deliveries via Ukraine on Saturday, in a development that signals a fast-approaching end of Moscow's last gas flows to Europe.
European and global gas prices spiked following a drop in Russian pipeline supplies in 2022 but some European countries found alternative sources, including liquefiedAustria was one of the first western European countries to buy Russian gas when the Soviet Union signed a gas contract in 1968, months before the Soviet invasion of Czechoslovakia.
Russia shipped about 15 billion cubic metres of gas via Ukraine in 2023, representing only 8% of peak Russian gas flows to Europe via various routes in 2018-2019, according to data compiled by Reuters. Gazprom's move showed Russia flexing its muscles at the West as pressure builds for a ceasefire in Ukraine, said Schmid at the University of St. Gallen. Russia likely felt emboldened after Donald Trump had won the U.S. presidency this month pledging to quickly end the Ukraine war, he added.
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