Dec 19, 2022, 8:30 PM

Hungarian FM says price cap is harmful and dangerous

Hungarian FM says price cap is harmful and dangerous

TEHRAN, Dec. 19 (MNA) – Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjarto believes that EU energy ministers will approve the highly-anticipated cap on gas prices on Monday.

"The EU Council of Energy Ministers has probably never met so frequently, but now it is justified given the energy crisis in Europe. The proposed cap on natural gas prices is wrong, harmful and dangerous, but it looks like it could still be introduced. There will be another big battle in Brussels today," Szijjarto wrote on Facebook, TASS reported.  

Earlier Budapest spoke out against a gas price ceiling, warning that it would diminish fuel supplies to the market, and trigger price hikes, with consumers digging deeper into their pockets to cover energy expenses.

Western countries have been seeking ways to limit Russia's income from oil and gas exports since the country launched a military operation in Ukraine on February 24. In October, the EU introduced the eighth package of sanctions against Moscow, which included a legislative basis for setting a price cap for maritime shipments of Russian oil to third countries. In addition to the price cap for Russian crude oil, the package provides for the introduction of a ceiling for Russian refined products starting from February 5, 2023.

EU energy chiefs are expected to take another shot at agreeing on a gas price cap in Brussels on Monday. At their previous gathering, they failed to reach an agreement on this issue.


News ID 195141


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