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Free AccessHungary Oppose Russian Gas Price Cap - Headlines Suggest EU Divided
Hungary against plans to try and cap Russian gas prices:
- Hungarian Foreign Minister Peter Szijjarto said "The plan that would impose a price cap exclusively on Russian gas coming via pipelines is entirely against European and Hungarian interests,".
- "If price restrictions were to be imposed exclusively on Russian gas, that would evidently lead to an immediate cut-off in Russian gas supplies. It does not take a Nobel Prize to recognise that," he said.
- "This morning ... we will do our utmost to make Brussels finally understand that gas supplies are not an ideological or political issue, but one of hardcore physical reality," Szijjarto said.
- Snippets coming out of this morning’s meeting indicate that EU nations are split on the plans to cap Russian gas prices. France for example has said this morning they support the cap, while Austria does not.
- Putin has said earlier in the week that price caps would result in flows being halted.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.