FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves Herman/File Photo
The EU regulation enshrining the plan agreed two weeks ago by the 27-nation bloc was published Monday in the European Union’s official administrative gazette, with the stipulation it would take force from Tuesday. The aim is for the EU to be able to bolster its reserves of gas in time for what is likely to be a very tough winter. European households and businesses are being squeezed by skyrocketing energy prices and reduced Russian gas that several member states are dependent on.
Some EU countries, though, had carve-outs from strictly following the rule, which was in any case termed a “voluntary demand reduction”.
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