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EU Compromises Gas Curbs as Russia Continues to Limit Supply

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
EU Compromises Gas Curbs as Russia Continues to Limit Supply

EU Compromises Gas Curbs as Russia Continues to Limit Supply

EU Compromises , Gas Curbs as Russia , Continues to Limit Supply.

On July 26, European Union countries approved a watered down emergency plan to curb the bloc's gas demand.

Reuters reports that the compromised deal limit the cuts for some countries amid fear of further reductions in the Russian supply.

Reuters reports that the compromised deal limit the cuts for some countries amid fear of further reductions in the Russian supply.

Russia's Gazprom said it would cut flows through the Nord Stream 1 pipeline to Germany to a fifth of capacity.

According to Reuters, a dozen E.U.

Countries already face reduced Russian supplies.

Brussels has now urged member states to save gas for fear that Russia could completely cut off flows in retaliation for Western sanctions.

Brussels has now urged member states to save gas for fear that Russia could completely cut off flows in retaliation for Western sanctions.

EU energy ministers approved a proposal to voluntarily cut gas use by 15% from August to March.

In response to resistance against the cuts, a number of countries agreed to make exceptions for certain countries and industries.

In response to resistance against the cuts, a number of countries agreed to make exceptions for certain countries and industries.

Countries like Ireland and Malta, who are not connected to other EU gas networks, would be exempt from the 15% gas cut other countries face.

Critical industries, such as steelmaking, are also exempt from the targeted cuts.

German Economy Minister Robert Habeck said the agreement was meant to show European solidarity in the face of Russia's latest gas cuts.

Prior to the invasion of Ukraine, 40% of EU gas came from Russia


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