VdL-We Are Working Intensively w/US To Reduce Impact Of Inflation Reduction Act

European Commission President Ursula von der Leyen speaking alongside Swedish PM Ulf Kristersson in northern Sweden as it takes on the presidency of the Council of the European Union. Livestream:https://audiovisual.ec.europa.eu/en/ebs/live/1

• VdL: We will propose a reform of the EU electricity market design this spring.
• VdL: We are facing unfair competition in clean tech from China...We need to facilitate public investment in clean tech. We are consulting with EU gov'ts on state aid rules for that.
• VdL: We are working intensively with the US to reduce the negative effects of the Inflation Reduction Act
• VdL: We have to have investment from across the EU for that, we need financing tools in the short and medium term for an adequate EU answer.
• VdL: We need to keep increasing pressure on Russia, keep supporting Ukraine. We are preparing for Ukraine's reconstruction, it will be a tool to combine reforms and investment.
• VdL: Russia has cut 80% of gas supplies to the EU in 8 months, but we compensated by diversifying. The hard work paid off, gas prices are lower now than before Russia's invasion.