The European Union government is in talks over purchasing emergency gas reserves from Russia as a bloc, in efforts to stop record-breaking fuel price hikes, The Telegraph reported on Monday citing EU sources.
The process is planned to be similar to the previous experience of strategic bulk buying of coronavirus vaccines for the alliance as a whole seeking better prices. Spain is said to be pushing for the decision, while France, Greece and Czechia seem to have expressed overall support.
The European Commission is scheduled to publish its « toolbox » for national governments on Wednesday, aimed at helping curb the impact of gas price pressures. Meanwhile, Russia’s President Vladimir Putin had stated that Kremlin is willing to supply more oil to stabilize markets.
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