US to impose new sanctions on Russia, targeting energy revenues
The United States will soon impose new sanctions on Russia and its energy resources, aiming to cut off revenues used to fund military actions, Deputy Secretary of State Geoffrey Pyatt told Voice of America on Dec. 17.
Pyatt, who has been conducting negotiations in Europe and Asia over the past two weeks, is confident that the international community will continue to "tighten the noose" to deprive Russia of energy revenues.
"We will do everything possible to reduce Putin's energy revenues, which he uses to buy missiles from North Korea and Russian drones that destroy Ukrainian civilian infrastructure daily," Pyatt stated.
The contract between Ukraine and Russia for gas transit expires on Jan. 1, 2025. Europe has already taken steps to prepare for the halt in transit. The share of Russian gas in Europe has decreased to 6%, and Russian gas transiting through Ukraine has dropped to 4%.
Austria and Slovakia are considered the most vulnerable, as they purchased over 90% of their gas from Russia last year. Due to concerns about gas supplies from Russia, the Moldovan parliament voted on Dec. 13, to declare a state of emergency in the energy sector, fearing disruptions in gas supplies to Transnistria, which is controlled by Russia.
Slovakia and Hungary are making efforts at the state level to ensure Ukraine continues the transit of Russian gas.
Several companies from Hungary, Slovakia, Austria, and Italy have appealed to the European Commission, expressing concerns that the termination of the agreement "will lead to increased prices for consumers in Europe" and "complicate gas supplies."
The EU is preparing for the final cessation of Russian energy supplies, European Commissioner for Energy Kadri Simson said earlier.
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