On Sunday, the Austrian chancellor, Karl Nehammer, called on the European Union to limit energy costs and separate the costs of electricity and gas.

The Austrian leader said that if nothing was done, Vladimir Putin would be able to "set the price of electricity in Europe."

Read the statement sent by Nehammer's office: "We must finally put an end to the chaos in the energy markets. And only a European solution can make that

happen. Noting that "something must finally happen. In its current state, this market won't be able to regulate itself. I'm asking all 27 countries in the EU to work together to stop this price spike right away. "

About 40% of the gas used in the European Union comes from Russia. In order to store this valuable resource ahead of winter and a possible supply

interruption, the government has pushed businesses to buy instead of sell, which has driven up prices. Some EU countries aren't paying for Russian gas in

rubles like Moscow asked, and EU sanctions against Russia that stop maintenance work on gas pipelines between Russia and Europe make this problem even worse.

MENAFN gives the information "as is" without any warranty of any kind. We are not responsible or liable for the information in this article, including its

accuracy, content, images, videos, licences, completeness, legality, or reliability.

If you have any problems with this article or questions about copyright, please contact the source listed above.

Click Here