The European Commission will propose capping the price of Russian gas along with measures that include mandatory reductions in the EU’s electricity consumption during peak hours and revenue caps for energy producers who do not use gas, European Commission President Ursula von der Leyen announced on Wednesday, Reuters reported.
“We will propose to limit the prices of Russian gas. We must reduce the revenues of Russia, which Putin is using to finance this brutal war in Ukraine,” Ursula von der Leyen said on Wednesday.
The head of the European Commission also said that the import of Russian gas has decreased sharply since the beginning of the war in Ukraine, reports AFP.
“At the beginning of the war, Russian pipeline gas accounted for 40% of all imported gas. Now this percentage is only 9%,” Ursula von der Leyen also said.
Russia is manipulating our energy markets and we are facing astronomical prices.
Therefore, we will propose measures to protect vulnerable consumers and businesses.
We have the economic strength, the political will and the unity to stay ahead.
https://t.co/ntpzZknBjW— Ursula von der Leyen (@vonderleyen) September 7, 2022
President Vladimir Putin on Wednesday threatened to cut off energy supplies if price caps were placed on Russian oil and gas exports, warning the West that it would shiver in winter and freeze its tail like a wolf in a Russian fairy tale, Reuters reported.
The news is updated.
Source: Hot News RU
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