Nine EU Countries Oppose Setting Maximum Gas Price Threshold

During a provisional voting on the establishment of a maximum price threshold for gas at the meeting of the European Union's energy ministers, nine countries, including Hungary and Germany, opposed the proposal. Hungarian Foreign Minister Peter Szijjarto announced this in a conversation with reporters.

“Unfortunately, this morning in the session, after discussions, the Czech representative presented a new proposal, and a provisional vote was conducted. During this provisional voting, nine countries, including us, were against the upper price threshold, but since an absolute majority is required, the necessary absolute majority has been gathered, despite the fact that nine countries opposed it,” Szijjarto stated.

He clarified that the countries that voted against (except for Germany), due to their small populations, were unable to form the necessary minority to block the measure.

It is noteworthy that the oil sanctions imposed by Western countries came into effect on December 5. The European Union has stopped accepting Russian oil transported by sea, while the “Big Seven” countries, Australia, and the EU are limiting the prices for its maritime transportation to $60 per barrel.

Russia's Deputy Prime Minister Alexander Novak, commenting on the decision and the upcoming embargo, stated that Russia would not accept the maximum price threshold for oil, even if it had to cut production. He added that such restrictions are an interference in market instruments and that Russia is prepared to work only with consumers willing to operate under market conditions.