Slovakia, heavily impacted by Ukraine’s refusal to renew the Russian gas transit agreement, seeking alternatives In January 2025, the Ukraine gas transit agreement expired, halting the Russian piped natural gas to Europe via Ukraine. The gas transit agreement was renewed in 2019 for five years, which was initially signed in 2009 for 10 years. Kyiv refused to renew it, arguing that the transit of Russian natural gas to Europe was aiding Moscow in financing its war against Ukraine, leading to a spike in the price of gas.

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The US views digitised money as a systemic fragility, while Europe sees efficiency and control—raising a key question: Are CBDCs boosting resilience or centralising risk? At a time when central banks worldwide are actively pursuing the development of digital currencies, the United States (US) has opted for a markedly different approach—outright prohibition. In January 2025, President Trump issued an executive order prohibiting the establishment, issuance, or circulation of a Central Bank Digital Currency (CBDC), citing concerns related to privacy, financial stability, and national sovereignty.

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