Gas price | EU cannot agree on a cap on Russian gas prices – Hungary

Gas price | EU cannot agree on a cap on Russian gas prices – Hungary

Political arguments dominated the gathering, according to foreign minister Peter Szijjarto.

At an emergency meeting on Friday, the EU’s energy ministers were unable to agree on a price restriction for Russian gas, according to Peter Szijjarto, the foreign minister of Hungary.

“Today, there was no resolution; there was only a political disagreement that the European Commission used as a guiding principle. We now anticipate that the European Commission will submit written, comprehensive suggestions either the following week or the week after the member states, according to Szijjarto, quoted by the RIA news agency.

The European Commission prepared recommendations on strategies to combat rising energy prices earlier this week, which the energy ministers were to examine. The idea to set a price cap on Russian pipeline gas was one of them. The plan, however, was opposed by certain member nations and received little support at the meeting on Friday, according to Reuters, which cited two unidentified diplomats. It was previously reported that several EU nations thought a price ceiling should apply to all gas imported into the bloc rather than just Russia.

Before the conference, Szijjarto claimed in a Facebook video that the planned price ceiling on Russian gas is against both European and Hungarian interests.

“Russian gas supplies would stop immediately if price limitations were to be applied only to Russian gas. It doesn’t require a Nobel Prize to understand it, he cautioned.

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