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Europe agrees compromise gas curbs as Russia squeezes supply

Europe agrees compromise gas curbs as Russia squeezes supply

13 Sept 13:25 Key points summarised by AI
  • EU nations approved a compromised plan for voluntary 15% gas demand cuts from August to March, bracing for further Russian supply reductions.
  • The agreement includes numerous exemptions for specific countries and critical industries, diluting an initial proposal for mandatory cuts across all member states.
  • This decision follows Russia's Gazprom further reducing Nord Stream 1 pipeline flows, intensifying Europe's energy crisis and driving up gas prices.
  • Despite some opposition and concerns over the efficacy of the weakened plan, the deal aims to project European unity against Russia's "politically motivated" actions.
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