Gas Transit Crisis: Europe's Energy Quandary

Slovak Prime Minister Robert Fico warns of the severe impact of halting gas transit through Ukraine on European Union countries. While Slovakia faces financial losses and higher gas import fees, Russia remains unaffected. This shift may increase gas and electricity prices across Europe.

The cessation of gas transit through Ukraine is predicted to have severe repercussions for European Union nations, according to Slovak Prime Minister Robert Fico on Wednesday.

Continuously voicing his concerns, the pro-Russian Slovak leader highlighted that Slovakia could face financial losses running into hundreds of millions of euros due to lost transit revenue and inflated costs of importing alternate gas sources.

Moreover, Fico emphasized that this situation could escalate gas and electricity prices throughout Europe, whereas Russia would remain unperturbed by the change.

(With inputs from agencies.)