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European States to Convene on Gas Price Curb

European Union member states are set to convene on Thursday to discuss strategies to curb gas prices. Rising gas prices have not only caused industry shutdowns but also left households struggling to pay their bills.

Diplomats are struggling to reach a consensus on how best to navigate the ongoing gas crisis, with EU members heavily disagreeing on how to implement a Group of Seven-led plan to minimize Russian oil revenues. European Union members discussed the issue for hours on Wednesday without an agreement being reached.

Ultimately, the goal of Thursday’s meeting is to agree on a package that will limit intraday price volatility, drive joint gas purchases, and facilitate the advancement of renewable energy projects.

Although diplomats were afforded the chance to air their concerns during Wednesday’s meeting, Czech deputy prime minister Jozef Sikela believes that a consensus will still not be easily reached today. “We freed some of the more emotional reactions today and that is why we expect the discussions today to be rather spicy,” Sikela commented.

Spain labeled the cap proposal as a “mockery”, while France stated that the conditions of the proposal were extreme. Polish Prime Minister Mateusz Morawiecki agreed with this sentiment, calling the terms “a cause for concern.”

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