Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets.

Ronald Reagan’s wish came true this week. The last gas pipeline to Europe from Russia shut down. The 40th president’s political heir, Donald Trump, stands to reap the benefit.

Ukraine, which had allowed Russian oil and gas to cross its territory to serve Europe while fighting Moscow’s invasion since 2022, refused to renew the deal.

Russia’s share of the EU pipeline natural gas market dropped sharply to about 8% in 2023, according to data from the EU Commission. The Ukrainian transit route served EU members Austria and Slovakia, which long got the bulk of their natural gas from Russia but have recently scrambled to diversify supplies.

The move is expected to have limited impact on the continent, which has diversified its energy supplies since Russia’s invasion of Ukraine.

Moldova faces a security crisis, Prime Minister Dorin Recean said on Friday after its separatist pro-Moscow Transdniestria region, cut off from supplies of Russian gas, closed factories, restricted central heating and imposed rolling power blackouts.

Ukraine ceased the transit of Russian natural gas to Europe following the expiration of a prewar deal from 2024. This significant decision, taken in the interest of national security amid the ongoing conflict,