EU plans to cap Russian gas price as Putin warns West of winter freeze - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

File image: Russian President Vladimir Putin attends a meeting with government members via a video link in Moscow, Russia March 10, 2022. Sputnik/Mikhail Klimentyev/KremlinFile image: Russian President Vladimir Putin attends a meeting with government members via a video link in Moscow, Russia March 10, 2022. Sputnik/Mikhail Klimentyev/Kremlin

As tensions rose, Putin said contracts could be ripped up in the event of price caps and warned the West it risked being frozen like a wolf’s tail in a famous Russian fairy tale. However, a Czech minister said earlier it should be taken off the agenda for Friday’s meeting. The Czechs are helping to guide discussions as holders of the EU’s rotating presidency.“We will not supply anything at all if it contradicts our interests,” Putin said at an economic forum in Vladivostok.

However, European utilities stocks rallied on the news with analysts viewing the level of the cap as a better than expected outcome for the industry.

𝐀𝐟𝐭𝐞𝐫 𝐭𝐡𝐞 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐚𝐧𝐝 𝐠𝐮𝐢𝐥𝐝 𝐥𝐢𝐧𝐞 𝐨𝐟 mr Tyronbfx_21 𝐈 𝐰𝐚𝐬 𝐚𝐛𝐥𝐞 𝐭𝐨 𝐢𝐧𝐯𝐞𝐬𝐭 €1500 𝐚𝐧𝐝 𝐦𝐚𝐝𝐞 𝐚 𝐩𝐫𝐨𝐟𝐢𝐭 𝐨𝐟 €15,550 𝐚𝐥𝐥 𝐭𝐡𝐚𝐧𝐤𝐬 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐧𝐝 𝐲𝐨𝐮𝐫 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦

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