Italian Minister Cingolani: European Commission to present ideas on gas price ceiling from Russia in September.
Italian Minister for Ecological Modernisation and Transformation Roberto Cingolani told La Repubblica newspaper that the European Commission hopes to reach a unified decision on a cap on gas prices from Russia by the end of September.
According to the official, negotiations between the European Union countries are in full swing, but full unanimity on the “price cap” is impossible to achieve because the states are dependent on gas supplies, mainly from Russia, to varying degrees. Three countries approve of such a measure, five oppose it or take a neutral position.
“The commission has been given a mandate to do so. An option that 15 countries have unequivocally spoken in favour of. No more can be achieved. The Commission could consider it later, but in any case before September. <…> Each minister expressed his opinion and while some statements were unequivocally in favour, others expressed doubts and others, especially those representing the countries most dependent on Russian gas, were unequivocally against,” Chingolani said.
The minister said a possible agreement to cap fuel prices should affect all gas suppliers.
“It makes no sense to impose restrictions only on Russian gas. There is very little coming to Europe now compared to what it was before the conflict. In any case, a signal must be given to all producers,” Chingolani explained.
The minister believes that the gas price “ceiling” could depend on the prices of other fuels. Possible options include linking the price to liquefied natural gas or Brent crude oil.
Chingolani also expressed dissatisfaction with the fact that some EU countries are slowing down the negotiation process because instability in the gas market plays into their hands. La Repubblica journalists speculated that it was the Netherlands.
“Among the 27 countries, there are those who pay much less for Russian gas than others. Finally, there are those in Europe who have a lot to gain from this situation. I am just looking at how the trade balances of the 27 EU members have changed in recent months,” he said.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel