EU Commission Studies Price Cap On Imported Russian Gas

The European Commission will look into setting a price cap on imported Russian natural gas, Italy’s Prime Minister Mario Draghi said on Tuesday. “The Commission received a mandate to study the feasibility of a gas price cap,” Draghi told reporters after today’s summit in Brussels. The European Union leaders agreed to cut Russian crude oil imports by as much as 90 percent by the end of this year, setting out first to target crude oil shipments via tankers. Hungary, Slovakia, and the Czech Republic are exempt from the embargo.…