https://sputnikglobe.com/20220730/skyrocketing-inflation-energy-consumption-cuts-endanger-european-solidarity-reports-say-1097951627.html
Skyrocketing Inflation, Energy Consumption Cuts Endanger European Solidarity, Reports Say
Skyrocketing Inflation, Energy Consumption Cuts Endanger European Solidarity, Reports Say
Sputnik International
MOSCOW (Sputnik) - The solidarity of the European countries' positions on Russia has been severely tested amid rising inflation and energy conservation... 30.07.2022, Sputnik International
2022-07-30T06:53+0000
2022-07-30T06:53+0000
2023-04-12T17:15+0000
inflation
energy
european union (eu)
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The media said that the EU has shown a united front since Russia launched its special military operation in Ukraine, but rapidly rising inflation, a cost-of-living crisis and the real prospect of energy rationing have created a rift among European leaders.According to the newspaper, there are some signs that unity among European countries on the energy issue does not look as strong as it could be and could collapse under the pressure of consumers.Since 2021, energy prices in Europe have been growing as part of a global trend. After the beginning of Russia's operation in Ukraine and the adoption of several packages of sanctions against Moscow in the West, inflation accelerated and fuel prices have been growing exponentially. On Wednesday, the prices reached $2,500 per 1,000 cubic meters after Gazprom announced its plans to reduce supplies via a key gas pipeline starting July 27 to no more than 33 million cubic meters per day, 20% of the pipeline's nominal capacity.On Tuesday, the EU energy ministers reached a political agreement on the so-called "Save Gas for a Safe Winter" plan on coordinated demand reduction measures for gas. The emergency plan recommends a voluntary 15% cut in natural gas consumption from August 2022 to March 2023, which the member states will institute "with measures of their own choice."Several nations have already voiced their opposition to consumption cuts, including Italy, Poland, Hungary, Portugal, Greece and Spain.
https://sputnikglobe.com/20220726/eu-energy-ministers-reach-political-agreement-on-gas-reduction-framework---czech-presidency-1097809753.html
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inflation, energy, european union (eu)
inflation, energy, european union (eu)
Skyrocketing Inflation, Energy Consumption Cuts Endanger European Solidarity, Reports Say
06:53 GMT 30.07.2022 (Updated: 17:15 GMT 12.04.2023) MOSCOW (Sputnik) - The solidarity of the European countries' positions on Russia has been severely tested amid rising inflation and energy conservation measures, the Financial Times reported on Saturday.
The media said that the EU has shown a united front since Russia launched its special military operation in Ukraine, but rapidly rising inflation, a cost-of-living crisis and the real prospect of energy rationing have created a rift among European leaders.
According to the newspaper, there are some signs that unity among European countries on the energy issue does not look as strong as it could be and could collapse under the pressure of consumers.
Since 2021, energy prices in Europe have been growing as part of a global trend. After the beginning of Russia's operation in Ukraine and the adoption of several packages of sanctions against Moscow in the West, inflation accelerated and fuel prices have been growing exponentially. On Wednesday, the prices reached $2,500 per 1,000 cubic meters after Gazprom announced its plans to reduce supplies via a key gas pipeline starting July 27 to no more than 33 million cubic meters per day, 20% of the pipeline's nominal capacity.
On Tuesday, the EU energy ministers reached a political agreement on the so-called "Save Gas for a Safe Winter" plan on coordinated demand reduction measures for gas. The emergency plan recommends a voluntary 15% cut in natural gas consumption from August 2022 to March 2023, which the member states will institute "with measures of their own choice."
Several nations have already voiced their opposition to consumption cuts, including Italy, Poland, Hungary, Portugal, Greece and Spain.
