We will cap Russia gas price despite Putin’s warning: European Union
The European Union has proposed a price cap on Russian gas just as Russia’s President Vladimir Putin warned that such a move would cause Moscow to cut off all energy supplies.
Europe is in the middle of an escalating standoff with Russia that could drive up already-soaring European gas prices further in advance of the cold months ahead. Brussels accuses Moscow of weaponising energy supplies in retaliation for Western sanctions imposed on Moscow over its invasion of Ukraine.
Russia continues to insist that the sanctions are causing the supply problems, which it puts down to pipeline faults. On Friday, Russia’s Gazprom fully suspended gas supplies through the Nord Stream 1 pipeline to Germany after it said it found an engine oil leak during maintenance work.
