The Kremlin describes the cap on gas prices as an “attack against the market”

The gas price cap threatens the mechanisms of market price formation, the Kremlin spokesman declared today, Dmitry Peskovnoting that Moscow will respond to the decision of the European Union (EU) to establish a cap on the price of gas imports.

SIGHT: European Union countries agree to cap the price of gas

“It is a violation of market price formation processes, an attack on market processes, any reference to this ceiling is unacceptable,” he told the Russian media, according to the Russian agency Interfax.

The representative of the Russian Presidency assured that Moscow will respond to this measure, but anticipated that time is required to “carefully assess all the pros and cons” of the responses.

“You know that the response to the oil price cap has taken a while. But we will publish it and the same will happen with gas. It will take some time,” he said.

EU countries reached an agreement today to set a price cap on gas imports at €180 per megawatt-hour (MWh) for transactions linked to the Amsterdam TTF index.

The agreement went ahead with the vote against Hungary, the abstentions of the Netherlands and Austria and the votes in favor of the rest of the Member States, in a negotiation developed in the twelfth Council of Energy Ministers of the year, European sources informed EFE and diplomatic.

Source: Elcomercio

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