EU to propose price cap on Russian gas, von der Leyen says

BRUSSELS: The European Commission will propose a price cap on Russian gas, alongside measures including a mandatory EU cut in electricity use during peak hours, and a cap on the revenues of non-gas power generators, the bloc’s chief said on Wednesday.

“We will propose a price cap on Russian gas… We must cut Russia’s revenues which Putin uses to finance this atrocious war in Ukraine,” European Commission President Ursula von der Leyen told reporters.

Putin says Russia to stop supplying energy if Western price caps imposed