Macron: No Evidence of Moscow's Involvement in Rising Energy Prices
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French President Emmanuel Macron says he has no evidence of intentional manipulation of gas prices in the global market.
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French President Emmanuel Macron
French President Emmanuel Macron announced Friday that he sees no evidence that Russia is intentionally manipulating energy prices in the global market.
Macron's comments came during an exclusive interview with The Financial Times, where he disclosed that he, therefore, blames no one for the manipulation of prices.
According to the French president, considerable price reductions are unlikely in the near future, thus the primary goal is to avoid supply disruptions and raise fuel costs on the eve of winter.
Macron also urged the G20 to coordinate energy suppliers' and customers' efforts in order to achieve a single goal for all.
The European gas market has seen significant swings in recent months. Futures were trading at $515 per thousand cubic meters in early August, but by the end of September, they had more than doubled, reaching a new high of $1,937 on October 6.
There was a drop subsequently, but prices kept rising. Other energy sources are also growing more expensive, all of which contribute to a rise in the cost of power for EU citizens.
On the sixth of this month, the price of gas futures contracts in Europe reached new highs, surpassing $1900 per thousand cubic meters for the first time in history, before falling below 1000 dollars per thousand cubic meters.
