President Vladimir Putin condemns moves by G7 nations to impose a cap on the price of Russian oil and EU states looking to introduce a price cap on Russian gas. At an economic forum in Vladivostok he said that sanctions against his country 'threaten the whole world.'
With leaders set to meet Friday in Prague, EU Commission President Ursula von der Leyen has floated new gas cap proposals.
10 Sep 2022
The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering - although the UK's new Prime Minister Liz Truss has ruled it out.
17 Jun 2022
The German government is planning to expand the powers of its antitrust authorities. The move comes after recent measures to compensate for rising gasoline prices have turned into a profit windfall for oil companies.