As of January 1, 2025, Russian gas stops flowing to Europe via Ukraine, marking a historic shift in energy relations. Ukraine faces the loss of $800 million in transit fees, and the EU's gas imports from Russia will be significantly reduced. Central European countries, including Hungary and Serbia, receive gas from Russia via a different pipeline and are largely unaffected. The end of the transit deal could mean that eastern European countries will import more gas from north-western European markets. Ukraine is expected to meet its own gas demand but may need to import more from the EU during a colder-than-average winter. Europe's gas reserves have fallen, and the cold snap could increase demand for gas for heating, leading to further withdrawals from backup supplies.