🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Moldova declares state of emergency amid gas supply concerns

Published 12/13/2024, 08:58 PM
© Reuters.

The Moldovan parliament, addressing concerns over potential disruptions in energy supplies, enacted a 60-day state of emergency on Friday. This decision comes as the nation anticipates a cessation of Russian gas deliveries through Ukraine, which are critical to Moldova's energy needs.

The current gas transit agreement between Russia's Gazprom (MCX:GAZP) and Ukraine's Naftogaz is scheduled to conclude on December 31. Ukrainian officials have firmly indicated they will not renew the contract, prompting Moldova to prepare for the anticipated shortfall.

With 56 out of 101 parliamentary members supporting the measure, the state of emergency grants the Moldovan government the ability to implement various actions aimed at averting and mitigating the risks associated with limited energy resources.

The potential disruption of gas supplies to Moldova, particularly to the Transnistrian region, has raised alarms over possible humanitarian crises and threats to the energy sector's operations and stability. The government has expressed its determination to safeguard the nation's energy security during this period of uncertainty.

Prime Minister Dorin Recean emphasized the urgency of the situation, stating the country's resolve to ensure that this winter marks the final time Moldova faces such vulnerability in terms of energy provision.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.