EU Nations Back 15% Gas-Cut Target as Russia Reduces Flows
Published Date: 7/26/2022
Source: Bloomberg Quicktake: Now
European Union countries reached a political agreement to cut their gas use by 15% through next winter as the prospect of a full cut-off from Russian supplies grows increasingly likely. Energy ministers meeting in Brussels gave the green light to a proposal to voluntarily cut their gas usage over the next months, the Czech presidency of the EU said in a post on Twitter. The plan makes the 15% target mandatory under an emergency situation -- such as a severe disruption to flows from Russia -- albeit with certain opt-outs for particularly vulnerable nations or those integral to the bloc’s network as a whole. Hungary was the only nation against the EU decision to cut gas use because it goes against the country’s interests, Foreign Minister Peter Szijjarto said in a statement. Prime Minister Viktor Orban called the EU move “alarming” and “another step toward a war economy” on his Facebook page. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake