EU to propose price cap on Russian gas even as Putin threatens supply halt

The European Union is set to propose a price cap on Russian gas, in a bid to cope with the ongoing energy crisis. European Commission president Ursula von der Leyen said the move is necessary to weaken Russia’s economy further as it continues its invasion of Ukraine. She also commended the EU’s success in phasing out Russian energy, noting that imports from Russia have been slashed to 9% from 40%. Russian President Vladimir Putin had earlier warned that Moscow will stop supplying oil and gas if price caps are imposed.

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