Ukraine halted the flow of Russian natural gas through its territory to Europe at 7 a.m. Wednesday, following the expiry of a long-standing pipeline transit agreement between the two neighboring countries.  

“We stopped the transit of Russian gas; this is a historic event,” Herman Galushchenko, Ukraine’s energy minister, said in a statement reported by ABC News. Galushchenko added that Russia is losing markets, and the collapse of the transit deal could cause Moscow significant financial losses. 

The move had been anticipated, with Galushchenko and other officials previously signaling their preparations to halt the transnational pipeline flow and discussing the move with neighboring countries.

“We have undergone a series of stress tests of our gas system in order to be sure that after the transit is closed, we will be able to function stably, ensuring gas supply to consumers,” Galushchenko said on Ukrainian TV last week.

Natural gas exported by Russia through Ukraine has long been used by European countries, including Slovakia, which had advocated for Ukraine and Russia to reach a deal to continue the transit.

However, Russia’s president, Vladimir Putin last week accused Kyiv of sabotaging the deal. 

Russia’s gas giant Gazprom confirmed the stoppage, telling the state-affiliated TASS news agency that Kyiv had refused to extend the transit deal.

The agreement had provided for about 40 billion cubic meters of Russian gas to transit through Ukrainian territory each year, according to TASS.