European Commission President Ursula von der Leyen said on Friday that it is time to introduce a price cap on Russian gas in the European Union in order to mitigate the impact of the energy crisis. Earlier, the G7 announced it will discuss the price cap at a meeting later today.
Von der Leyen also said that there is a legal foundation for the EU to tax windfall profits of energy companies during the gas crisis. She also confirmed the bloc reached 80% gas storage capacity earlier than expected, with the deadline previously set for November 1.
