Tag Archives: European Union (EU)

The energy ministers of the 27 European Union member states are holding an emergency meeting in Brussels on Tuesday to try to reach an agreement over capping the price of natural gas to shield customers and businesses from spikes in prices. Early on Tuesday before the meeting, the EU was …

Some European Union countries are trying to weaken the bloc’s planned law to cut methane emissions in the oil and gas sector, documents show, weeks after the EU pledged at the COP27 climate conference to do more to tackle the potent greenhouse gas. Methane is the second biggest cause of …

A dozen countries, including Belgium, Italy, Poland and Slovenia, have made efforts to “significantly” lower the European Union’s planned gas price cap amid the bloc’s attempts to reach an agreement on the issue, Reuters reports. Gas prices in Europe have risen sharply this year after Russia cut gas supplies, leading …

The clash over a proposal to cap natural gas prices in the European Union intensified as a group of 12 member states urged a significantly lower intervention ceiling to limit the impact of an unprecedented energy crisis on the bloc’s consumers and businesses. The move by nations including Belgium, Greece, …

EU countries want to ease conditions for a proposed gas price cap to be triggered following criticism that the European Commission’s model was too strict, according to a leaked draft, seen by EURACTIV. The new set of amendments, circulated by Czechia, which currently holds the EU’s six-month rotating presidency, show …

On December 2, EU member states unanimously agreed to introduce a price cap at $60 per barrel on Russian seaborne oil, as well as an EU-imposed embargo on Russian crude oil shipped by sea. Both initiatives would go into effect on December 5. The EU’s price cap is also joined …

Russia has repeatedly said it will not supply oil to countries that implement the cap – a stance reaffirmed by Mikhail Ulyanov, Moscow’s ambassador to international organizations in Vienna, in posts on social media on Saturday. “Starting from this year Europe will live without Russian oil,” he said. The G-7 …

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day. The EU agreed the price after holdout …

Ukraine on Saturday welcomed a $60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would “destroy” Russia’s economy. The price cap, previously negotiated on a political level between the G7 group of wealthy democracies and the European Union, will come into effect with an …

The White House on Friday welcomed a $60 per barrel EU price cap for Russian oil exported by sea. “A price cap will help limit Mr. Putin’s ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians,” …