Brussels will temporarily cap prices

The issue continues to shake Europe. On September 30, the EU of 27 agreed on a series of emergency measures to deal with the rise in energy prices. But they remained divided over a cap on the price of gasoline. This solution is defended by several States, including France, but it comes up against the reluctance of the community executive, or of countries such as Germany. They fear that capping prices will threaten European supplies by deterring “reliable partners” such as Norway or the United States to supply gas to the European Union, for the benefit of other destinations.

However, the president of the European Commission does not admit defeat. This Wednesday, Ursula von der Leyen announced before the European Parliament that the EU should put a temporary cap on natural gas prices until a new price index is introduced. Introducing a cap on gas in general is a temporary solution until we have a new price index in the European Union that ensures a better functioning of the market and the Commission has already started working on it »she said.

Europeans want to put a cap on the price of gas… without knowing how to do it

He also said he would specify, in a letter to European leaders meeting in Prague on Thursday, that the EU should establish a common energy supply system.

Towards an eighth round of sanctions against Russia

On Wednesday, member states agreed on a new round of sanctions against Russia following the annexation of four Ukrainian regions, the Czech EU presidency announced. The agreement was concluded at the level of the ambassadors of the Twenty-seven. The names and entities targeted by these new sanctions will be published in the EU Official Journal on Thursday, diplomats said.

The high representative of the European Union (EU) for Foreign Affairs, Josep Borrell, had indicated a little earlier that an agreement should be reached during the day “within the European Council” while the Twenty-Seven had been debating this eighth set of sanctions since last week.

On May 31, the fifth round of sanctions ratified the establishment of an embargo on Russian oil. Specifically, it was a matter of immediately banning more than two thirds of Russian oil imports and ending 90% of them by the end of the year, providing exceptions, for Hungary – which strongly opposes this embargo due to its ultra-dependence – on the Russian imports – and other countries, concerned about the economic impact of this decision.

(with AFP)