Price Cap on Russian Gas proposed by EU – Von der Leyen

The European Commission is proposing a cap on the price of Russian gas as part of a range of measures to address spiralling energy costs.

The President of the Commission Ursula von der Leyen today outlined five different initiatives to address what she called the astronomical electricity prices for households and companies and the “enormous market volatility”. The proposals will be discussed by EU energy ministers on Friday.

Speaking in Brussels earlier, President von der Leyen said the price cap on Russian gas can be imposed “really fast” and that the EU cannot be blackmailed anymore by Vladimir Putin’s announcements on it.

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