Rising Gas Prices for Europe Loom Without Russia-Ukraine Transit Deal

The Kremlin warns that European consumers may face higher gas prices if the current Russian gas transit deal with Ukraine, set to expire on December 31, is not extended. Ukraine has indicated no intention to renew the deal, making consumers vulnerable to cost increases.

The Kremlin announced on Wednesday that European consumers could see a hike in gas prices if the deal for Russian gas transit via Ukraine isn't renewed by its December 31 expiration.

Kremlin spokesman Dmitry Peskov mentioned in a daily press conference that while Russia could explore alternative routes, the cost would ultimately affect European customers.

Ukraine has consistently stated it has no plans to negotiate a new gas transit agreement with Russia, adding uncertainty for the European market.

(With inputs from agencies.)