EU gas price cap still elusive as leaders meet again over energy crunch
Leaders of the 27 European Union countries are meeting for the second time in a fortnight to try to bring down energy prices, though persistent divisions between them mean the bloc is unlikely for now to put a ceiling on what it pays for gas. The 27 are expected to back an alternative price benchmark for liquefied natural gas and joint gas buying, after earlier agreeing to cut consumption and introduce levies on windfall profits in the energy industry. But they remain as split as they were months ago on whether and how to cap gas prices to stem high inflation and stave off recession after Russia cut gas flows following its invasion of Ukraine. Read more here. Today’s discussion is also expected to tackle issues related to Iran and China.
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