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2026-11-02T17:41:57.000Z

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US offers gas-for-peace

US offers gas-for-peace

The Donald Trump administration is pushing to resume Russian gas flows to Europe through Ukraine, with an American company acting as intermediary, in exchange for a truce halting attacks on energy facilities and paving the way for a broader deal to end the war. Washington proposes placing the gas revenues in an escrow account in a third country to prevent them from being used to fund military operations, while Ukraine would receive transit fees. But European capitals oppose renewed reliance on Russian gas, and EU legislation is set to end imports by the end of 2027. The proposal comes amid pressure on energy supplies: European gas storage levels are only 75%, and EU countries have spent about €100 billion more on energy because of the war with Iran. Russia’s share of Europe’s gas needs has fallen from about 45% before the war to 11% today. Renewed Ukrainian strikes on Russian refineries are complicating prospects for de-escalation, while Moscow says exports cannot resume immediately. Washington is seeking to push for trilateral talks in Abu Dhabi in mid-November.

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