French President Emmanuel Macron revealed Friday that the EU is developing a mechanism to protect consumers from the consequences of the gas crisis.

"With gas, we don’t have a major impact from the crisis and sanctions, and where the market went up by 40 percent, it only went up by 4 percent for consumers because we had a shield in place. Now we have to work on another European mechanism too," Macron explained at a press conference following the summit of EU leaders in Versailles.

The French President confirmed that in the upcoming hours, together with German Chancellor Olaf Scholz, he would again have a conversation with Russian President Vladimir Putin.

"Together with Chancellor Scholz, we will again have a conversation with President Putin in the coming hours," Macron said at a press conference following the Versailles summit.

On March 10, Putin, Macron and Scholz had a phone conversation and discussed the situation in Ukraine.

EU to double military supplies to Ukraine

It is noteworthy that the EU foreign policy leader Josep Borrell admitted on the first day of the EU leaders' summit that the West has made a number of blunders in its relations with Russia, including promising Ukraine membership in NATO.

However, Borrell said that the European Union may soon agree to send additional 500 million euros ($548 million) to fund the military needs of Ukraine.

"[Another] 500 million euros of our contribution to military support to Ukraine… the European Peace Facility will double it support [by] 500 million euros," he said ahead of the informal meeting of EU leaders.

In the same context, leaders of EU member states have tasked the European Commission with compiling a report on Moldova's and Georgia's membership applications.