https://sputnikglobe.com/20220907/von-der-leyen-eu-commission-will-propose-price-cap-on-russian-gas-1100504838.html
Von Der Leyen: EU Commission Will Propose Price Cap on Russian Gas
Von Der Leyen: EU Commission Will Propose Price Cap on Russian Gas
Sputnik International
MOSCOW (Sputnik) - The European Commission will propose a price cap for Russian gas, commission head Ursula von der Leyen said on Wednesday. 07.09.2022, Sputnik International
2022-09-07T13:27+0000
2022-09-07T13:27+0000
2022-09-07T13:27+0000
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"We aim at lowering the costs of gas and therefore we will propose a price cap on Russian gas," von der Leyen said at a press conference on energy issues.Praising the results of the EU's energy policy, the commission head said that at the beginning of the Ukrainian crisis Russia's pipeline gas accounted for 40% of all imported gas and now it is down to only 9% of European gas imports.The commission also aims at putting price cap on LNG (liquefied natural gas) imports, the president said, adding "what we are looking at now is that we stay competitive for the LNG suppliers but we make sure that the prices that we pay are not extraordinarily high but in a decent range."On Friday, G7 finance ministers confirmed their intention to impose price caps for Russian oil as part of expanded sanctions against the country. 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.On February 24, Russia began a military operation in Ukraine, responding to calls for help from the republics of Donetsk and Lugansk. The West has responded by imposing comprehensive sanctions against Russia, with the EU pledging to end its dependence on Russian energy supplies. The bloc has already approved seven packages of sanctions against Moscow, including a gradual phase-out of Russian oil. The Ukraine crisis and sanctions have resulted in disruptions of supply chains and a spike in energy prices worldwide.
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Von Der Leyen: EU Commission Will Propose Price Cap on Russian Gas
MOSCOW (Sputnik) - The European Commission will propose a price cap for Russian gas, commission head Ursula von der Leyen said on Wednesday.
"We aim at lowering the costs of gas and therefore we will propose a price cap on Russian gas," von der Leyen said at a press conference on energy issues.
Praising the results of the EU's energy policy, the commission head said that at the beginning of the Ukrainian crisis Russia's pipeline gas accounted for 40% of all imported gas and now it is down to only 9% of European gas imports.
"We have worked very hard over the last month to make sure that we have the solidarity net that is important for the member states that we can make sure that gas flows where needed most," von der Leyen said, noting that it is very important that the price cap on Russian gas can go into effect really fast.
The commission also aims at putting price cap on LNG (liquefied natural gas) imports, the president said, adding "what we are looking at now is that we stay competitive for the LNG suppliers but we make sure that the prices that we pay are not extraordinarily high but in a decent range."
On Friday, G7 finance ministers confirmed their intention to impose price caps for Russian oil as part of expanded sanctions against the country. 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.
On February 24, Russia began a military operation in Ukraine, responding to calls for help from the republics of Donetsk and Lugansk. The West has responded by imposing comprehensive sanctions against Russia, with the EU pledging to end its dependence on Russian energy supplies. The bloc has already approved seven packages of sanctions against Moscow, including a gradual phase-out of Russian oil. The Ukraine crisis and sanctions have resulted in disruptions of supply chains and a spike in energy prices worldwide.
