12/19/2022, 6:57 PM (Source: TeleTrader)
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Kremlin: Gas price cap violates market pricing process

Kremlin spokesperson Dmytry Peskov underscored on Monday that the previously agreed gas price ceiling by the European Union's energy ministers is a violation of "market pricing process," stressing that such a move by the bloc is "unacceptable."

"It will take time to carefully weigh the pros and cons," said Peskov.

The temporary framework adopted by the European Union is set to limit the price of gas to €180 per megawatt-hour (MWh) from February 15. Polish Prime Minister Mateusz Morawiecki earlier welcomed the bloc's decision, noting that price ceiling effectively ended "market manipulation by Russia and its company Gazprom."

Baha Breaking News (BBN) / AB