EU Compromises , Gas Curbs as Russia , Continues to Limit Supply.
On July 26, European Union countries
approved a watered down emergency
plan to curb the bloc's gas demand.
Reuters reports that the compromised deal
limit the cuts for some countries amid fear
of further reductions in the Russian supply.
Reuters reports that the compromised deal
limit the cuts for some countries amid fear
of further reductions in the Russian supply.
Russia's Gazprom said it would cut flows
through the Nord Stream 1 pipeline
to Germany to a fifth of capacity.
According to Reuters,
a dozen E.U. countries already
face reduced Russian supplies.
Brussels has now urged member states to
save gas for fear that Russia could completely
cut off flows in retaliation for Western sanctions.
Brussels has now urged member states to
save gas for fear that Russia could completely
cut off flows in retaliation for Western sanctions.
EU energy ministers approved
a proposal to voluntarily cut gas
use by 15% from August to March.
In response to resistance against the cuts,
a number of countries agreed to make
exceptions for certain countries and industries.
In response to resistance against the cuts,
a number of countries agreed to make
exceptions for certain countries and industries.
Countries like Ireland and Malta, who are not connected to other EU gas networks, would be exempt from the 15% gas cut other countries face.
Critical industries, such as steelmaking,
are also exempt from the targeted cuts.
German Economy Minister Robert Habeck said
the agreement was meant to show European
solidarity in the face of Russia's latest gas cuts.
Prior to the invasion of Ukraine,
40% of EU gas came from Russia