At least 10 EU countries demanded price caps on all imported gas
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At least 10 EU countries, including Italy, Poland and Greece, demanded a cap on the cost of all imported gas supplied to the EU, not just Russian, reported the Financial Times, citing unnamed European officials.
“Brussels is facing pressure from at least 10 EU countries to impose gas price caps on all suppliers,” the statement said. At the same time, some governments fear that the approval of the plan proposed by the European Commission to limit prices for Russian energy resources could lead to a complete cessation of supplies to Europe.
The day before, US Deputy Secretary of the Treasury Wally Adeyemo said that the G7 countries (USA, Canada, Great Britain, Japan, Germany, Italy, France) will impose a price limit on oil supplied from Russia by December 5. He noted that for these measures to be effective, a large number of countries that buy Russian oil, including India, which traditionally has close ties with Russia, and China, will need to be persuaded to join the plan.
Earlier, the Financial Times wrote that a similar price limit for Russian oil products would come into force on February 5, 2023. At the same time, the European Commission proposed introducing restrictions on the cost of Russian gas. Officials believe that such measures will guarantee the supply of Russian energy resources, while significantly reducing Russia’s oil and gas revenues.
Russian President Vladimir Putin, speaking at a plenary session at the Eastern Economic Forum (WEF), called the idea of an administrative price cap “nonsense” and “absolutely stupid decision”, which will lead to a further increase in energy prices in Europe and the countries that make this decision. He said that Russia would not supply energy resources to those countries that “impose” their conditions. “Those who impose something on us are not in the position today to dictate their will to us. Let them dress up. <...> We will not supply anything outside the scope of the contract, we will not do anything imposed. We will only have one thing left, as in a well-known Russian fairy tale, to say: “Freeze, freeze, wolf tail,” Putin said.
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