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11/25/2022, 5:10 PM (Source: TeleTrader)
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Germany approves gas price cap

German Chancellor Olaf Scholz stated on Friday, during a joint conference with French Prime Minister Elisabeth Borne, that the country's cabinet had approved a gas price brake in an accelerated process, which is expected to come into action next year.

At the same conference, it was revealed that Berlin and Paris signed a joint declaration with regard to energy solidarity. France started providing Germany with gas supplies in mid-October, in return for improved power supply to the country from the latter.

"Our two countries need each other to get through the energy crisis next winter," Borne stressed, while Scholz highlighted the importance of the close alliance between the two.

Baha Breaking News (BBN) / AY