Slovak Prime Minister Robert Fico stated that the cessation of Russian gas transit through Ukraine in 2025–2026 would cost Europe an astounding €120 billion.
Fico detailed that approximately €50 billion would be lost due to increased gas costs, while an additional €70 billion would result from higher electricity prices generated from gas.
“An incredible €120 billion will be paid by Europe for the halt of Russian gas flows to Europe through Ukraine and then through Slovakia to other European countries,” emphasized the Slovak leader.
According to Fico, such changes will inevitably lead to a rise in gas prices, negatively impacting the entire EU economy. More expensive energy will weaken the competitiveness of European producers, creating additional challenges for businesses and consumers.
Slovakia, through which a significant portion of Russian gas transits, will also be at risk. The country will not only lose transit revenues but also face higher prices on the domestic market, potentially exacerbating the socio-economic situation in the region.
