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The EC did not rule out the restriction of gas prices from Russia in the event of a cessation of supplies
May 14, 2022
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The European Commission wants to allow governments to limit gas prices for consumers if supplies of Russian fuel are cut off, Welt am Sonntag found out to the EC document on “short-term interventions in the energy market”, according to Reuters.
According to the document, EU member states will be able to regulate fuel prices during the transition period to protect them from a surge even before there will be a shortage.
At the end of March, Russia transferred payments for gas with unfriendly countries into rubles. From April 1, companies from these countries are required to open two accounts with Gazprombank— currency and ruble. First, the payment will go to the currency account, after which the bank will sell the currency on the stock exchange and credit the rubles to the second account. The Kremlin said that Moscow would not supply gas to Europe for free. “No payment” no gas, — Russian presidential spokesman Dmitry Peskov said. In the list of “unfriendly” states included all EU countries, the USA and some others. The European Commission acknowledged that Moscow's demand to pay in rubles is contrary to EU sanctions.
At the end of April, Gazprom stopped pumping gas to Poland and Bulgaria because of their refusal to pay for fuel in Russian currency. The head of the EC, Ursula von der Leyen, called it blackmail, the Kremlin did not agree with her.
According to the head of European diplomacy, Josep Borrell, the EU will be able to refuse Russian gas within two years. At the same time, he noted that European countries are striving to diversify supplies and “reduce dependence on Russian energy raw materials, but not ban it.”
As Bloomberg reported, the EU is considering replacing gas from Russia with LNG supplies from African countries , in particular from Nigeria, Senegal and Angola.
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