News

The E.U. weighs a Russian gas price cap and other measures to rein in ‘astronomic’ energy prices.

The New York Times · Matina Stevis-Gridneff · last updated

The bloc is also considering mandatory cuts in electricity use and taxes on oil and gas companies.

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Related Knowledge Center: Energy security and pricing

State of Play

The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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