The United States has reportedly engaged in discussions with Russia to potentially restore natural gas flows to Europe through pipelines in Ukraine, according to a report by the Wall Street Journal. The proposal, introduced by President Trump’s envoys Jared Kushner and Steve Witkoff during visits to Moscow and Kyiv in September, suggests selling Russian gas via a U.S. intermediary. However, this arrangement would still face legal hurdles due to the EU's restrictions on Russian gas imports, despite offering a potential financial opportunity for American investors.
Ukraine halted all Russian gas transit at the start of last year when a five-year deal between Gazprom and Naftogaz expired, with Ukraine refusing to extend it. The WSJ report suggests that renewing gas transit could provide Ukraine with much-needed revenue. Additionally, a new Russian gas deal could lower gas prices for European consumers as winter approaches and heating demand peaks. The EU's gas storage levels are currently below average, with Germany particularly vulnerable, as its storage sits at 61% full, well below the target of 80% as of November 1.
EU officials have maintained that the phase-out of all Russian energy commodity imports will continue, even after the war in Ukraine ends. Despite this stance, European countries have been the largest buyers of Russian liquefied natural gas this year, accounting for approximately 85% of Yamal LNG's global deliveries during the first nine months of 2026.