The European Union is unlikely to introduce a price cap on Russian gas.
The Guardian reported this with reference to the draft regulation, Ukrainian News Agency reports.
“The EU executive is retreating from imposing a price cap on Russian gas, but pushing ahead with windfall taxes on energy company “surplus” profits, according to a leaked document,” the publication states.
It is noted that the EU is expected to levy windfall taxes on the high profits of fossil fuel companies, with a separate cap on revenues of low-carbon electricity producers.
According to the publication, the final text may still change, but at the moment the draft regulation indicates doubts of the European Commission about sufficient support from EU Member States for the establishment of restrictions on Russian gas in response to the Kremlin's energy blackmail.
EU Member States that import large volumes of gas from Russia, including Hungary, Slovakia and Austria, have opposed limiting the price of Russian gas because they fear the Kremlin will stop all gas flows, plunging their countries into recession.
About a dozen countries, including France and Poland, would like to impose price caps on all imported gas, which they believe is the best way to curb soaring prices.
The Commission is unenthusiastic about the idea as it fears the EU will lose out to countries willing to pay more in the highly competitive liquefied natural gas market.
European Commission President Ursula von der Leyen is expected to publish a plan to tackle rising electricity prices during her annual state of the union speech on Wednesday.
As Ukrainian News Agency earlier reported, in mid-September it became known that the European Commission has developed two options for limiting the price of Russian gas.
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