Fifteen EU countries have expressed support for the introduction of a common price cap for imported gas, with three more states approving it only for Russian supplies, Italian Minister for Ecological Transition Roberto Cingolani said on Friday
BRUSSELS (Pakistan Point News / Sputnik - 09th September, 2022) Fifteen EU countries have expressed support for the introduction of a common price cap for imported gas, with three more states approving it only for Russian supplies, Italian Minister for Ecological Transition Roberto Cingolani said on Friday.
"Fifteen countries spoke in favor of a common price ceiling, three would prefer it only for Russian gas, three do not have preliminary opinions, but would like long-term checks of economic sustainability to be carried out. The last five are either against or neutral," Cingolani said following the EU energy ministers' meeting in Brussels.
Cingolani noted that countries close to the Eastern European regions opposed the proposal due to concerns about a possible halt of Russian gas supplies. However, according to the minister, these countries do not consume a lot of energy.
During the meeting, the ministers discussed measures to tackle skyrocketing energy prices in Europe, including the possible price cap on imported Russian gas, supported by the European Commission head Ursula von der Leyen. Meanwhile, many EU ministers called for limiting the cost and other supplies of "blue fuel" to the union, with the European Commission considering the option of introducing a ceiling on liquefied natural gas prices. According to Cingolani, EU energy ministers have asked the European Commission to continue searching for ways to combat the ongoing economic crisis.
G7 finance ministers confirmed on September 2 their intention to impose price caps on Russian oil as part of expanded sanctions campaign against the country due to its special operation in Ukraine. The price cap will take effect on December 5 for crude oil and on February 5, 2023, for refined products coming from Russia. Moscow, in turn, pledged to stop exporting Russian oil to the states that would apply the limits.
