Hungary “secured exception” from the eventual setting of ceiling prices for gas

Hungary “secured exception” from the eventual setting of ceiling prices for gas

Hungary's prime minister, Viktor Orban, has said Friday that an agreement has been reached at the European Union summit that stipulates that the annual ceiling price setting for gas will not apply to long-term agreements, like the 15-year pact Hungary and Russian company Gazprom. The ceiling price is the maximum legally allowed price in [...]

The ceiling price is the maximum legally allowed price in one state.

Prime Minister Orban has said on his Facebook page that “we have secured an exception from the ceiling price for gas, so the deal will not harm Hungary's gas supplies”.

According to him, even if there would be common gas procurement in Europe, “something like that would not be mandatory for Hungary”.

European Council President Charles Michel has said Friday that the European Union states will continue to work to combat the energy crisis that has involved this bloc.

EU leaders “have agreed to work on measures to fight the energy prices for family economies and businesses”, he said on Twitter.

“Unity and solidarity triumph”, he said on Twitter, following lengthy negotiations among EU leaders.

They have discussed until the early hours of the morning how to fight in the best way to raise gas prices.

Most of them were reconciliation for setting the price ceiling.

Gas prices have increased considerably since Russia's war in Ukraine began.

Russia has reduced the amounts of gas leading to the EU, citing online works.

The West believes the Kremlin's decision is revenge for imposing sanctions on Moscow from the start of the war.

The war in Ukraine has begun on February 24th.

Russian President Vladimir Putin considers the war “special military operation” to demilitarise Ukraine.

The West has responded to Russia, striking the economy of this state with severe sanctions.

As a result of the war, thousands have died, and millions of others have been displaced from their homes. / REL

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