The President of the European Commission, Ursula von der Leyen, spoke out on Friday in favor of a price cap on Russian pipeline gas. This could also lower prices in the EU. With this demand, von der Leyen distances himself from what the European Commission had recommended the day before.
As reported, he had advised against a price ceiling within the EU in a draft. The argument: Such an emergency measure could disrupt both supply and demand. The President of the European Commission, Ursula von der Leyen, made clear on Friday during a meeting of the federal faction leadership of the Union in Germany that she advocates a price ceiling on Russian gas. “I firmly believe that now is the time for a price cap for Russian pipeline gas to Europe,” she said.
More gas from Norway
This could also be proposed at European level. Capped prices on Russian gas imports could lead to lower prices in the EU. Norway now supplies more gas to Europe than Russia and a lot of liquefied gas comes from the US, “but that’s not enough,” von der Leyen said. “The highest priority is saving energy.” The gas storage facilities in Europe are currently 80 percent full.
“There is not enough energy worldwide. Putin would rather burn the gas than have it contractually supplied to Europe or other regions. So: save energy, and save wisely, especially at peak times, so that we no longer need gas,” said the president of the European Commission.
meager profits
Von der Leyen approved the European Commission’s proposal to redistribute energy profits. These should benefit small incomes and vulnerable businesses. In the medium term, one must also think about the structure of the electricity market and invest heavily in renewable energy sources.
Should the EU impose a price cap on Russian gas, the Kremlin could cut off supplies completely. “There will simply be no Russian gas in Europe,” Russian ex-president Dmitry Medvedev wrote on Telegram.
Source: Krone

I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.