Ukraine's Gas Move Cripples Russia's Energy Empire

Ukraine's recent decision to sever its gas transit agreement with Russia has sent shockwaves through the global energy market. This move has dealt a significant blow to Russia's state-controlled energy giant, Gazprom, whose revenues have plummeted in recent years. According to Bloomberg estimates, the loss of the Ukrainian pipeline route could cost Gazprom an additional $6 billion annually. This development underscores Europe's successful efforts to diversify its energy sources and reduce its dependence on Russian gas. However, the situation is more complex for countries like Turkey and Hungary, which remain heavily reliant on Russian supplies. The video highlights the geopolitical implications of this situation, particularly the leverage it gives the US in its dealings with these countries.