Tough reaction from the Kremlin against the gas price ceiling of 180 euros per megawatt/hour decided by the European Union. The gas price is “unacceptable” because it is “an attack on the market”, said Kremlin spokesman Dmitry Peskov, assuring there would be an “appropriate response” from Moscow. “Moscow will need time to weigh the pros and cons and choose a response to the new gas sanctions, but measures will be taken,” added Peskov.
The EU Commissioner for Energy, Kadri Simson, explained that “the mechanism adopted today has a lower activation level than the Commission’s initial proposal and the spread is now 35 euros. The text maintains the essential characteristics of a correction instrument that was proposed. And it comes with a stronger set of safeguards.” Simson, who was speaking at the press conference following the approval of the price cap at the Energy Council in Brussels, added: “The Commission has always been very clear that this mechanism brings benefits but involves risks. And other safeguards have been introduced to protect liquidity energy supply, financial markets and gas consumption. Today’s agreement clearly indicates that Europe is not willing to pay any price for gas and that it is able to act to guarantee its energy security”.
Source: IL Tempo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
