The EU was afraid of Russia’s response to the restriction of gas prices
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The Financial Times, citing sources in the EU leadership, reported that a number of EU countries fear that if a price ceiling is imposed only on Russian gas, Moscow may respond with a complete cessation of supplies. According to the FT, at least a dozen states are in favor of general restrictions for all gas suppliers to Europe.
Among such countries the newspaper names Greece, Italy and Poland. Among the reasons for the introduction of a common ceiling, the difficulties of negotiation are also mentioned: for a decision relating only to the Russian Federation, it will be required “for” from all 27 EU member states, and a majority of votes is sufficient to adopt a general restriction.
An unnamed senior EU source told the FT that “everyone fears a domino effect” if Russian supplies are cut off due to the union’s high degree of integration. “If you limit prices only for Russian gas, then this will not affect other suppliers in any way, and Russia will get angry. What, for example, will Portugal, which does not import Russian gas, tell voters?” the source recalled.
It is also reported that supporters of price regulation on all gas entering the EU are proposing to set a “ceiling” above the current prices in Asia and the US so that suppliers continue to have an incentive to supply Europe.
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