A European agreement on measures containing the energy price crisis

A European agreement on measures containing the energy price crisis

Charles Michel, the president of the European Council, proclaimed via “Twitter: “Soudan is unity and solidarity. An agreement to work on energy price control measures for families and businesses.”
The deal, which was reached at a summit that would go on until Friday, did not, however, receive any additional specifics from the European official.
This deal was reached following weeks of conflict between Europe’s energy ministers, who were unable to resolve this issue at their meetings.

The argument is on whether to set a gas price cap and how to do so as part of the attempts to reduce the cost of energy.
Media reports have indicated that there was a draft looking to deal with the energy crisis that recently exacerbated, at a time when in Europe is heading to a winter witnessing a scarcity in Russian gas, which was providing 40 percent of the continent’s supplies, and a possible living crisis and a potential stagnation.

Gas prices have risen as a result of Russia cutting off its exports to Europe in the wake of the Ukraine War and Western sanctions placed on Moscow, which led the majority of European Union countries to demand the highest possible gas prices despite their disagreement over how to do so.

European steps to address the energy price situation are agreed upon.

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