Even if Russia and Ukraine were to fail to reach an agreement on the natural gas transit through Ukraine onto Europe, the security of gas supply in the European Union (EU) will not be materially threatened.

The current ten-year gas transit agreement between Russia and Ukraine expires on December 31, 2019. The parties need to reach a new agreement by that date to set the terms of deliveries of Russian gas to Europe via Ukraine’s territory.

Russia has been building pipelines to Europe and Turkey that bypass Ukraine—TurkStream and Nord Stream 2. Ukraine, for its part, is a key transit country for Russian gas westwards to Europe and relies on the gas transit fees. (RT)