EU summit will not decide on gas price cap, says EU Commissioner

30/5/2022 4:29:00 PM

EU summit will not decide on gas price cap, says EU Commissioner

Gas Price, European Union

EU summit will not decide on gas price cap, says EU Commissioner

ROME, May 30 — European leaders, who will convene in Brussels today and tomorrow for an EU summit, will not decide on imposing a cap on gas price s but could mandate the...

Monday, 30 May 2022 8:49 PM MYTROME, May 30 — European leaders, who will convene in Brussels today and tomorrow for an EU summit, will not decide on imposing a cap on gas prices but could mandate the Commission to study the issue, the European Commissioner for Economy said.

“If this is agreed among member states, the Commission will act very quickly to analyse this possibility,” Paolo Gentiloni told reporters at the Foreign Press Association in Rome, adding it would be difficult to make any predictions regarding the timing of a possible decision.

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EU fails to agree on Russia oil embargo, to try again Monday before summitBRUSSELS, May 30 — The EU failed on Sunday to agree on an embargo of Russian oil, but diplomats but will still try to make progress ahead of a Monday-Tuesday summit on an...

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EU summit to agree sanctions should include Russian oil embargo with pipeline exemption — draftBRUSSELS (May 30): European Union (EU) leaders are due to agree at a summit later on Monday (May 30) that the sanctions package under preparation should include an embargo on Russian oil imports as punishment for Moscow invading Ukraine, but exempt pipeline crude deliveries.But, unable to agree on all the details of the oil embargo, the leaders will leave the final agreement on the package for later.'The European Council agrees that the sixth package of sanctions against Russia will cover

EU fails to agree on Russia oil embargo, to try again Monday before summitBRUSSELS, May 30 — The EU failed on Sunday to agree on an embargo of Russian oil, but diplomats but will still try to make progress ahead of a Monday-Tuesday summit on an...

EU summit to agree sanctions should include Russian oil embargo with pipeline exemption — draftBRUSSELS (May 30): European Union (EU) leaders are due to agree at a summit later on Monday (May 30) that the sanctions package under preparation should include an embargo on Russian oil imports as punishment for Moscow invading Ukraine, but exempt pipeline crude deliveries.But, unable to agree on all the details of the oil embargo, the leaders will leave the final agreement on the package for later.'The European Council agrees that the sixth package of sanctions against Russia will cover

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Monday, 30 May 2022 8:49 PM MYT ROME, May 30 — European leaders, who will convene in Brussels today and tomorrow for an EU summit, will not decide on imposing a cap on gas prices but could mandate the Commission to study the issue, the European Commissioner for Economy said. “If this is agreed among member states, the Commission will act very quickly to analyse this possibility,” Paolo Gentiloni told reporters at the Foreign Press Association in Rome, adding it would be difficult to make any predictions regarding the timing of a possible decision. However, a senior EU diplomat said there was “still too much detail to sort out” to hope for an agreement before European Union leaders gather in Brussels on Monday afternoon. “It would already be an important step if the EU Council gave the Commission the go-ahead” to study the mechanism of a price cap, Gentiloni said. “Most of my production goes to Europe, especially to our Romanian brothers,” Tronciu told AFP at his vineyard, about 50 kilometres (30 miles) away from the Ukrainian border. Italy has proposed that EU member states cap the price of gas imports from Russia to help reduce inflation in the bloc, but other countries have raised doubts about the effectiveness of the idea. The package includes cutting Russia’s biggest bank, Sberbank SBMX. Energy prices in the area hit record highs this year after the invasion of Ukraine by Russia, Europe’s top gas supplier.6 million people nestled between Ukraine and Romania, and among the world’s 20 largest wine producers — has long sought closer ties with Europe.

EU leaders gathering in Brussels will try to agree on Russian oil import sanctions, seeking to avoid a display of disunity over the bloc’s response to the war in Ukraine. The whole package has been held up by Hungary, which says an oil embargo would be a body blow to its economy because it cannot easily get oil from elsewhere. This has now mitigated the war’s impact as the industry struggles with rising prices for raw materials and a lack of Ukrainian consumers. According to a new draft of the summit conclusions, the 27 leaders should agree that their next round of sanctions will cover oil with a temporary exemption for crude delivered by pipeline, a compromise that ambassadors had failed to agree yesterday. The text seen by Reuters, which might yet be revised again, would confirm an agreement on seaborne oil sanctions, with pipeline oil supplied to landlocked Hungary, Slovakia and the Czech Republic to be sanctioned at some point. Talks on the oil embargo have been going on for a month with no progress and leaders had been keen to reach an agreement for their summit to avoid looking disunited in their response to Moscow. — Reuters Advertisement ..