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BREAKING
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation

European Commission vows to examine gas price cap by September: Italy

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Jun 2022 21:22
2 Min Read

As leaders of the European Union agreed on an embargo on Russian oil imports that will take effect near the end of the year, the Italian initiative to impose a price cap on Russian gas may be considered.

  • x
  • Italy’s Prime Minister Mario Draghi (Archive)
    Italy’s Prime Minister Mario Draghi (Archive)

The European Commission has promised to study the Italian initiative to impose a price cap on Russian gas purchases by September so that it can be discussed at the EU leaders' summit in October, Italy’s Prime Minister Mario Draghi said on Friday.

At a press conference, Draghi stated that EU leaders had rejected Italy's proposal to hold an emergency energy summit in July. 

The prime minister was informed of the need to conduct a study, which will be the subject of discussion.

Furthermore, the Italian Prime Minister emphasized that European leaders agreed on the gravity of the energy crisis and shared a commitment to finding new suppliers and stockpiling.

Related News

Putin signs decree banning sales of oil to price cap abiding states

Russia retaliates against EU price cap, signs gas swap deal with Iran

Rome proposed capping the price of fossil fuels at 80-90 euros per megawatt-hour as per local media.

Draghi tersely stated that Europe has a market right to limit gas prices as a consumer, but it does not use it out of fear that Russia will reduce supplies further in response.

"But it has already happened," he concluded.

The high cost of fuel reflects the high prices that Europeans face. According to a Greenpeace report, oil companies selling diesel and gasoline in Europe have made more than $3 billion in profits since the war in Ukraine began.

It is worth noting that the European Union buys the majority of its energy supplies from Russia, and experts have warned that cutting off the supply may have disastrous consequences.

  • gas price cap
  • European Commission
  • Russian Gas
  • Itlay
  • Mario Draghi

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