A fifth emergency meeting of European Union energy ministers has ended in a stalemate, with members divided on a price cap for Russian gas.
The bloc wants to punish Moscow by paying less for its gas, while protecting consumers from prices that have soared since the Ukraine war began.
The split is between those wanting tough measures and those fearing that too low a cap might affect supplies.
That could happen if producers sell to other markets instead of the EU as higher rates are on offer elsewhere.
The ministers are hoping to reach a compromise at another round of talks next week.
But can the deep divisions within the EU be overcome?
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Adrian Finighan
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Cornelia Meyer, CEO of Meyer Resources
Chris Weafer, CEO at Macro-Advisory, a strategic consultancy
Wojciech Przybylski, Editor-in-Chief at Visegrad Insight
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23 Comments
EU wants to cap price at 270 for next year, when today the market price is 130. If the future cap is twice today's price, economy is not looking good. People need to brace for a serious recession
It just does not make any sense at all, EU is willing to pay four times more to buy America LNG than from Russia. The gas cap should be also apply to USA too, unless you are a fool.
Blockade by rogue actors or unilateral sanctions is to blame for this?
NATO dominate sea transport they can blockade Suez canal Persian Gulf and India ocean to stop import good and oils export ðĪŠ it's not hard to staff all the Gulf state with no supply
the Europeans are hypocrites…just like the US over China…both have enjoyed the benefits and now how they follow the instructions of US completely. There is something very rotten in EU.
dont sell to EU at all. Full stop
Now cap on oil and later mybe cap on every body .or cap on ð . Stop steeling others properly than we don't need caps ðĪ. Keep world in peace
Next year european contries will overbid each other fore lng thats whats going to happen fighting for energy
When the earth decides to be independent and sease to give up her oil and the wells go dry remember noting last forever
Poland refuses to build a Russian gas pipe line through its territory, losing several billion dollars for transit and buying really cheap gas from Russia!! this decision put Poles on the World List of Idiots in the FIRST PLACE !! Well, unless came from the U.S. BAN on anything from Russia!!
Russia has money for war in Ukraine from gas? It was necessary to IMPLEMENT MINSK Agreement there would be no War !! but it is OK to buy from S Arabia and finance the war in Yemen!! and What about the wars in Iraq, Libya, Syria?? Polish SCUM were also in IRAQ !!!
How stupid can EU member states be! Russian gas cap = no gas supply leading to an increase in the price of gas plus deindustrialisation. Only USA gets to benefit
uk and eu were not happy to buy cheap russian oil and gaS the bastards got greedy aNDthe yanks told uk and eu to get rid of russia with sanctions to bring russia to its knees so eu and usa can control russian oil and gas WELL you thick dumass west you got what you dsereved you are now on your kneess, biden and boris and vdl can now ddance in the dark,,,the germans and the frogs are now begging russia its called KARMA
Europe sanctions themselves once more
The trace of Ukraine is visible in the price ceiling. They all asked for gas from Russia almost for free, because they are fraternal peoples. But they were shown a fig. Europe decided to step on the same rake. Well, at least Russia will no longer support Ukraine at its own expense. Now let Europe restrain scammers and freeloaders.
Better stop war
Check out my advanced technical analysis from today
Russia just keeps losing.
China is more than happy with EU decision, thats mean more oil and gas for them. China currently have oil reserves that will last 80 DAYS. They are desperate and racing to buy more oil and gas from Russia. Like Russia said, they simply won't sell they oil and gas to EU and stupid price cap without subsidies can't break the rule of law Demand over supply.
I know US have make a milestone and break through for Nuclear Fusion but hey… Rome doesn't built it self in one day.
ðð
Russia should sell their oil, gaz to countries who pay a fair price not just to steal as usual
US can supply at below $60.00 so why worry so much. After all, US wanted all European countries not to buy from Russia anyway.
Wait a minute. Didn't President Biden say US and as well as all Europe will not depend on gas or oil at all but only the solar and nuclear energy? Why now hunting for gas and oil? President Biden even stopped their production of gas and oil. ðððâ―