Russia's 'price terror', EU announces cut in gas consumption

Russia oil and gas price
European countries have agreed to a 15% reduction in gas consumption. (photo credit: AFP)

Faced with further gas supply cuts from Russia, EU countries have approved a weak emergency plan to curb demand. 

Europe has been under severe gas pressure since Wednesday, as Russia's Gazprom said it would more than halve the gas it supplies to Germany via the Nord Stream 1 pipeline. 

The emergency plan was approved on Tuesday after some countries agreed to cut supply limits. 

European countries are in the midst of a major energy crisis and Belgium has asked member states to stockpile gas for the winter as supplies from Russia, which has been embargoed by the Ukraine conflict, are also feared to be completely cut off. 


The Energy Ministers approved a proposal that all member states voluntarily reduce their gas consumption by an average of 15 percent between August and March. 

Reduction in consumption should be made mandatory. But member states have agreed that several industries will be exempted from the mandatory 15 percent cuts. 

German Economy Minister Robert Heibeck said that this agreement will make it clear to Russian President Vladimir Putin that Europe is united. "You will not be able to divide us."

UN assembly
The European Union has called for gas storage for the winter. (Photo credit: Reuters)

Hungary was the only country to oppose the deal, two EU officials said. 

Meanwhile, Ukrainian President Volodymyr Zelensky has said that Russia is cutting supplies to impose gas 'price terrorism' on Europe. , 

Moscow is doing everything possible to make the coming winter as harsh as possible for European countries. Terrorism must be answered. Put restrictions.

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