Italian Prime Minister Mario Draghi said that “dependence on Russian gas has decreased from 40% to 25%”, explaining that “we are doing very well with gas storage. As for dependence on supplies from Russia, today it has decreased from 40% to 25%. 25 percent,” explaining that “the main objection to setting a ceiling on gas prices today is the fear that Russia will continue to cut supplies. search for new suppliers, accumulation of stocks and common areas.
He added: “Of course, there must be solidarity, and we need a response to requests to control gas prices. The main objection today is the fear that Russia will stop deliveries, but today we are at a stage where the reduction in Germany has reached 50 percent. Putin has the same income, and Russian supply is shrinking.”
Draghi also said that the measures Italy is considering will ensure there is no winter energy emergency, warning: “We are preparing for this winter” and continued: “All forecasts and studies give an idea that the search for other suppliers, in terms of volumes put us in a good position.” He pointed out that Germany’s stance on capping gas prices “has changed to move in the direction of Italy.”
He added: “From the preliminary objection, we moved on to this text, which states that the report of the commission should be submitted in October,” asking the question: “Could October be delayed? Yes, but the European Council was open. At the moment there is no decision on some kind of Emergency Council, but if the decision worsens, two and a half months will not pass without work, and 70% of the goods in the purchasing index recorded a price increase, and therefore it is necessary to act immediately”, noting that “prices for energy carriers were growing even before the war, and now inflation, which was before, was highly dependent on energy, and now it also depends on other factors.”
Draghi warned that “as has always been the case with long-term increases in the amount of matter, this extended to other goods, and if we can do something in this direction, we can achieve something in terms of curbing inflation and interest rates, and we acknowledge that there are many concerns, and some of them are very skeptical about what to do. I asked for an energy summit in July,” but he said, “It is necessary to wait for the assessment of this issue by the European Commission, and this will only be possible at the October Council.”
The Italian government is committed to protecting and supporting the purchasing power of Italians, Draghi said, adding: “It serves social peace and I intend to have a meeting with the social partners soon.”
He also said that “the G7 summit will take place next Sunday and there will definitely be talk of a gas price ceiling,” explaining that “the US is aware of the difficulties we face with the sanctions. The sanctions are effective, but they are also hard on us. The US has already decided on some assistance measures to bring LNG to Europe, but these numbers are contained. The United States is primarily concerned about the price of oil, and in this context, the proposal to set a cap on the price of oil – this is the tool that everyone suggests using in this case.”
Source: El Nashra