Media: EU Won’t Cap Gas Prices

EU countries failed to agree on introducing a price cap on imported gas. European Union countries will not impose a price cap on gas, The Guardian reported Tuesday, Sept. 13, citing documents. “The draft European regulation on the ‘electricity emergency tool’, which The Guardian has seen, does not contain a price cap on Russian or other imported gas,” the report said. It is noted that “the final text could still change,” but the draft reveals the Commission’s doubts over gaining enough support from EU member states for the introduction of the price capping. Despite this, the EU is expected to levy additional taxes on energy companies’ “surplus” profits. Recall that last Friday the EU Energy Ministers were unable to reach an agreement on the price cap on Russian gas. Before that, Russian President Vladimir Putin announced the possibility of a complete stoppage of gas supplies to the EU in case of a price cap on Russian gas.