European Commission Proposing Price Cap On Russian Gas

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European Commission Proposing Price Cap On Russian Gas

European Commission Chief, Ursula von der Leyen, is proposing to cap the price of Russian gas.

The move is being condemned by Russia’s President, Vladimir Putin.

Since Russia invaded Ukraine energy prices have gone up significantly.

Recently the G7 group of nations defending the gas cap move.

They claim it will reduce Russia’s revenue for its Ukraine invasion as well as inflation in the West.

Researchers in Finland estimated Russia has made €158bn rom surging fossil fuel prices during the six-month invasion.

They claim European Union imports account for more than half of that.

Meanwhile, weaponising is how European leaders have described Moscow’s use of its gas exports as a response to the sanctions imposed on businesses and persons.

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