(CNN) – The Kremlin on Monday described the agreement reached by European Union countries on capping gas prices as “unacceptable and violates the process of pricing in the market,” according to the agency. of Russian press “RIA Novosti” .
Kremlin spokesman Dmitry Peskov said the measure was “unacceptable and violates the market pricing process”, adding that “it will take time to weigh the pros and cons carefully”.
And European Union energy ministers on Monday reached an agreement on setting a ceiling for gas prices in a bid to deal with high energy prices after weeks of negotiations between members.
According to the agreement, an emergency price cap will be triggered if the price of gas exceeds 180 euros ($190) per megawatt hour for three consecutive working days, which is the main European benchmark for natural gas prices, and if in same period the price is 35 euros ($37.5) higher in the same period. ) from the reference price of LNG in global markets.
“We have done our job and we have an agreement,” Czech Minister of Industry and Trade Josef Sekela, whose country holds the rotating presidency of the Council of the European Union, told a press conference in Brussels, adding that “another impossible task has been accomplished”, describing the negotiations as “not easy”.
He added that an agreement had been reached on a temporary mechanism to protect European citizens and businesses from “excessive gas prices”.
The European Council stated in a statement that the mechanism will be applied from 15 February 2023 and, once activated, will continue for at least 20 working days.
Speaking with Sekela, European Energy Commissioner Kadri Simpson said: “Today’s agreement clearly shows that Europe is not willing to pay any price for gas and is able to work in unison to ensure own energy security.
