March 22, 2022, 11:29 AM EDT
It’s been a month since the war started, but Russia is actually shipping more natural gas through Ukraine and Moscow is still paying Kyiv in full for transiting the fuel to Europe.
Daily gas flows from Russia at some point surged more than 50% from January lows, with shipments traveling through Ukrainian pipelines more than doubling as energy companies rushed to buy after the invasion. Exports from Europe’s top supplier became cheaper than buying gas in the spot market, and Russia is still paying for transit in hard currency, according to Yuriy Vitrenko, chief executive officer of NJSC Naftogaz Ukrainy, Ukraine’s largest state-owned oil and gas company.
It’s an awkward situation for European policy makers, which have imposed several rounds of sanctions on Moscow to try to starve President Vladimir Putin’s government of the cash it needs to fund the invasion. The increase also comes as European governments pledge to wean themselves off Russian gas, with plans to keep nuclear and coal plants open for longer and import more liquefied natural gas from countries including the U.S. and Qatar.





















