Business

EU nation weighs in on Russian gas price cap — Analysis

The Czech industry minister doesn’t want to discuss a move that won’t solve the energy crisis

The Czech Republic will seek to take the issue of imposing a price cap on Russian gas off the agenda of an upcoming meeting of EU energy ministers, the nation’s minister of industry, Jozef Sikela, said on Wednesday.

Speaking to the country’s Senate committee on the economy, Sikela indicated that he doesn’t want to discuss the issue at the meeting because it is “It is not a way to solve the energy crisis, but a tool of politics.

I don’t think it is a constructive suggestion. This is more a way to punish Russia than a solution for the European energy crisis.,” he stressed.

EU energy ministers will meet in Brussels on Friday to discuss ways to control rising energy prices. Sikela stated that he is interested in separating gas and electricity prices as one of the topics he would like to discuss. He said that this could lower the electricity price for the public.




Czech minister says he was not surprised by the Nord Stream 1 shutdown. “It’s part of the energy war we’re in… It will be the winter battle that determines who wins.” he stated, adding that the country has done its best to prepare for it.

But prices will fall only if Europe can break from the gas cartel.,” he reiterated.

Gazprom closed the Nord Stream 1 pipeline completely on August 31. However, the company later announced that the pipeline would stay shut indefinitely as a result of an oil leak at the turbine. Canada has placed sanctions on Moscow, and this malfunction cannot be fixed. Due to technical problems on the main gas supply route from Canada to the EU, gas prices have soared which has exacerbated the continent’s energy shortage.

Sikela’s comments come on the heels of massive protests in Prague that erupted this past weekend. Protestors demanded the resignation of the government over rising energy prices and inflation. They also requested that anti-Russian sanctions be dropped.

Share this story via social media

Tags

Related Articles

Back to top button