The EU countries could not agree on the ceiling of prices for Russian gas

The EU countries could not agree on setting a ceiling on prices for Russian gas and decided to refrain from introducing this measure for the time being. 

The adoption of the relevant decision was prevented by «political disagreements and concerns about the security of supplies within the bloc.»

Today, the European Commission plans to present a number of measures that will avoid sharp spikes in energy prices and use the joint purchasing power of EU countries in negotiations with global energy suppliers. Earlier, the European Union approved the eighth package of sanctions, one of the main measures of which was to limit the cost of oil.

It is clarified that the EU countries are in no hurry to introduce a ceiling on prices for Russian gas also because of fears that Russia may completely stop its supplies in response. On October 12, the President of Russia announced that energy supplies to those countries that approve the price ceiling will be stopped. 

In addition to limiting prices for Russian gas, the EC also thought about introducing similar measures for gas from other countries, including pipeline and liquefied natural gas (LNG). The European Commission also wants to launch a new liquefied natural gas index to better reflect the energy reality of the region after a reduction in pipeline gas supplies from Russia.