Moldova declares state of emergency over fears Russian gas flows via Ukraine will stop Published Fri, Dec 13 20247:36 AM ESTUpdated 6 Min Ago thumbnail Sam Meredith @in/samuelmeredith @smeredith19 WATCH LIVE Key Points

Chisinau, Moldova. Pierre Crom | Getty Images News | Getty Images Analysts at Dutch bank ING said the cessation of Russian gas supplies into Europe via Ukraine means the European Union will lose around 15 billion cubic meters of gas supply annually, which is the equivalent to around 5% of total imports. “While there have been some efforts to try to keep gas flowing through a possible swap with Azerbaijan, it appears that these flows will stop and we believe this should be priced into the market,” Warren Patterson, head of commodities strategy at ING, said in a research note published Wednesday. “This leaves a downside risk to the market. If for any reason these flows continue, the European market will be left better supplied than many were expecting,” he added.