Ukraine’s decision to end the gas transit deal with Russian energy giant Gazprom has been hailed by President Volodymyr Zelensky as one of Moscow’s biggest defeats. "When (Russian President) Vladimir Putin was handed power in Russia over 25 years ago,

Ukrainian transit gas deal to Europe ended on Jan. 1. For now, the most acute effects are being felt in a region called Transnistria, on the eastern edge of Moldova.

The Russian gas company Gazprom on Saturday said it will no longer supply natural gas to Moldova in the new year, blaming the country's alleged debts. Gazprom said the country's gas company Moldovagaz "regularly fails to fulfil its payment obligations under the existing contract,

Slovak Prime Minister Robert Fico escalated threats against Ukraine on Jan. 9, warning of severe consequences in response to Kyiv’s suspension of Russian gas transit, Slovak media outlet Teraz.sk reported.

This will clearly deprive Russia of about $6.5 billion in annual revenue from gas sales to Europe. It’s one of the biggest and most expensive losses for Moscow. Of course, we welcome Ukraine’s decision and its determination,

Ukraine's move will deprive Russia of about $6.5 billion in annual revenue from gas sales to Europe, according to U.S. National Security Council spokesperson John Kirby.

The ongoing conflict has highlighted the importance of diversifying gas supplies to build resilience against geopolitical risks.