Von der Leyen helps Europe’s value cap on Russian gasoline

MURNAUGermany, Sep 2 – The pinnacle of the European Fee, Ursula von der Leyen, stated on Friday that Europe should set up a value cap for gasoline that arrives via Russian pipelines, so as to counteract the makes an attempt of the Russian president, Vladimir Putin, to control the European power market.

He additionally known as for steps to be taken to cut back the windfall income electrical energy suppliers have constituted of the gasoline disaster, and for the cash for use to assist susceptible residents and companies.

“I firmly consider that the time has come to place a cap on the costs of Russian gasoline reaching Europe,” he informed reporters on the sidelines of a gathering of German conservative parliamentarians within the metropolis of Murnau.

“A gasoline value cap may be proposed on the European degree, and there may be additionally a authorized foundation on the European degree to gather the advantages briefly as an emergency measure in a time of disaster,” he added.

Within the present EU electrical energy market, turbines promote their energy at a value set by the final energy plant wanted to satisfy demand, usually a gas-fired plant, which has meant that the current rise in Fuel costs have pushed up the price of electrical energy.

Russia has reduce gasoline deliveries to Europe because it invaded from Ukraine, pushing gasoline costs to report highs. Nations are racing to seek out various provide as they attempt to refill gasoline reservoirs for the winter.

The power ministers of the European Union will meet on September 9 to debate their response to the worth hike.

On September 14, von der Leyen will current the Fee’s concepts on the EU’s emergency measures to cope with rising costs, a senior Fee official stated on Thursday.

“Over the previous couple of weeks and months, we’ve got labored onerous on the European degree to battle in opposition to these (Putin’s) manipulations,” von der Leyen stated in Murnau.

“We have now agreed on joint (gasoline) reserves and have reached a fill degree of 80% on common for now, two months forward of schedule,” he stated, noting that Norway is now supplying extra gasoline to the bloc than Russia.

“However all this isn’t sufficient: We see that the electrical energy market is now not working as a result of it’s massively disturbed resulting from Putin’s manipulations,” stated von der Leyen, including that Russia is now selecting to burn gasoline as a substitute of delivering the volumes. contracted to Europe.

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