European capitals need to avoid competing for bilateral gas deals and instead jointly buy fuel from big suppliers, Belgium’s prime minister urged, as he warned the EU was allowing its economy to be “ruined” by soaring energy prices.
Alexander De Croo said the EU should draw on the success of the European Commission’s joint Covid-19 vaccines procurement and make a combined effort to secure large quantities of gas, as it seeks to curb prices and wean itself off Russian fossil fuels.
In an interview with the Financial Times he also called for a ceiling on gas prices, saying the EU energy market showed a failure that is “just out of control”.
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