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EU Economy Commissioner Paolo Gentiloni said Saturday that now the European Union was “fully prepared” in the case of a total halt in Russian gas deliveries, given to storage capacity and energy-saving measures. On the sidelines of an economic forum hosted by The European House – Ambrosetti, told reporters, “We are well fully ready to resist Russia’s extreme use of the gas weapon.” We ask the Russians to uphold contracts, but if they don’t, we’re prepared to respond, he said, adding that we’re not frightened of Putin’s decisions.
The Nord Stream pipeline connecting Russia to northern Germany was scheduled to resume service on Saturday after a three-day maintenance break, but Russian gas giant Gazprom announced Friday that it would be “completely” paused until a turbine is fixed.
Moscow reacted to the G7 nations’ decision to target Russia’s energy windfall by consenting to cap the price of its oil, which was made public on Friday.
Ursula von der Leyen, the head of the European Commission, said on Friday that it “would be time” to cap the cost of gas imported from Russia through the pipeline, endorsing a proposal made by Mario Draghi, the prime minister of Italy.
Even while the situation differs from nation to nation, according to Gentiloni, “gas storage is currently at roughly 80%, thanks to the diversification of supply” in the European Union.
Despite the fact that Brussels had “done a lot in recent months,” he claimed, “more can be done today.”
He stated that the objective is to “pursue a united European strategy that works against the assault of Ukraine using economic weapons.”
He declared, “We are not taking part in the war, we are not taking part in the military escalation.
“We are in favour of Ukraine. We must do it now more successfully.”
