We are not frightened of Putin’s policies; we want Russians to honour contracts, but if they do not, we will retaliate, he continued.
The Nord Stream gas pipeline connecting Russia and northern Germany, which was set to resume service Saturday following a three-day pause in maintenance operations, will be shut down altogether until the turbine is fixed, without providing a timeframe.
Thus, Russia is responding to the Group of Seven decision made on Friday, which is to target Russia’s energy gains, by agreeing to create an oil price cap.
The European Commission’s President, Ursula von der Leyen, stated on Friday that it was time to create a price cap for Russian gas imported through the pipeline, supporting the execution of a policy proposed by Italian Prime Minister Mario Draghi.
Gentiloni reminded out that gas storage (which is presently over 80% in the European Union due to variety of supply sources) is important, even if the situation varies by nation.
The European Union stated that while Brussels has accomplished much in recent months, much more may be accomplished today.
He added that the purpose is to follow the united Europe policy, which uses economic weapons to counter the invasion of Ukraine.
We are not engaged in the fight or the military escalation, he continued, but we are supporting Ukraine and must do so more effectively today.
The European Union is contemplating a response to Russia’s move to reduce gas supplies.
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