Foreign
EUROPEAN Union leaders, on Friday at the Brussels Summit focused attention on the support for Ukraine and relations with China after a laborious agreement to cap the price of gas to limit extreme peaks.
Leaders tasked the European Commission and EU energy ministers to work out in detail how “excessive” price peaks within a trading day for short-term gas contracts could be capped.
Belgian Prime Minister De Croo, on day two of the summit, kicked off and said “what happened yesterday is that we listen to each other. And this is not about one blocking the other, this is about some countries having legitimate concerns.’’
Germany had come under increasing pressure to ease its opposition over concerns that lower gas prices would put supply safety at risk or increase consumption.
After more than 10 hours of talks, German Chancellor Olaf Scholz conceded that limiting price volatilities “certainly makes sense.”
EU leaders fell short of backing measures which would directly impact consumer prices in the short term.
Turning to foreign policy, EU leaders will discuss their support for war-torn Ukraine on Friday.
In May, the European Commission proposed providing 9 billion euros ($8.8 billion) in grants and loans to Ukraine to keep its civilian administration running, but only a third has been disbursed so far, leading to calls to improve the way in which Ukraine receives aid.
The bloc’s relationship with China was also on the agenda with the discussion focusing on whether Beijing should be seen as a rival, competitor or partner depending on geopolitics, trade or fighting climate change. (dpa/NAN)
A.I
Tags: De Croo EU
