Ukraine Russia Sign 10-Year Oil Transit Agreement

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In the first 10 months of this year, Ukraine transported 73.3 billion cubic meters of Russian gas to Europe, or about 45 percent of Russia`s total revenue in Europe and Turkey, according to ukrTransGaz. Under the transit agreement, Ukraine is expected to ship most of the gas to Central Europe and Moldova. However, Gazprom`s proposal came with a number of reservations, which the Russian giant said earlier would insist on before a new transit agreement could be signed. Russian oil transit to Europe was momentary in April after several Central and Eastern European countries decided to suspend imports due to contamination on the Russian side. The deal, reached just 24 hours before the current deal expired on Tuesday, prevented a possible interruption of Russian gas flow to Europe and helped Moscow avoid a further blow to its reputation as a long-term energy supplier after Russian oil exports to Europe were contaminated earlier this year. MOSCOW/KIEV (Reuters) – Russian and Ukrainian companies have signed a final five-year deal for Russian gas transit to Europe via Ukraine, Kremlin-controlled gas giant Gazprom and Ukrainian President Volodymyr Selenskyy said on Monday evening.

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