As the transit deal between Russia and Ukraine approaches its expiration, the flow of Russian gas to Europe is set to halt, raising concerns among European consumers and industries. Gazprom has begun reducing gas supplies ahead of the cutoff, which is anticipated to further impact gas prices amid fears of energy shortages. While EU officials assert readiness for the cessation, countries like Slovakia face significant cost increases. The end of this transit deal marks a critical moment, with European gas prices already soaring as markets react to the impending changes. Putin has signaled there will be no new agreement, leaving European nations to seek alternative gas sources and brace for the economic repercussions.