Europe pushing for gas price cap with Russia

Italian Premier Mario Draghi says Europe is pushing for a cap on gas prices with Russia because its payments are financing the war in Ukraine. For this reason, Italy along with other countries are pushing for a cap on the price of gas.

Italian Premier Mario Draghi says Europe is pushing for a cap on gas prices with Russia because its payments are financing the war in Ukraine. Draghi told foreign reporters Thursday that the prices that Europe is paying are out of line with the global market. "We, Germany and Italy, along with other countries that are importers of gas, coal, grains, corn ... are financing the war. There is no doubt,'' Draghi said. "For this reason, Italy along with other countries are pushing for a cap on the price of gas. There is no substantial reason that the price of gas is so high for Europeans.'' Draghi noted that Russia has no other market for its gas, giving Europe room to maneuver. Asked about the risk that Russia would simply respond by turning off the taps, Draghi said, "no there is no danger."