Ukraine War: EU To Hold Emergency Energy Talks As Prices Set Records

EU to hold emergency energy talks as prices Set Records.

EKO HOT BLOG reports that the European Union will hold emergency talks to address the energy crisis brought on by Russia’s invasion of Ukraine.

The Czech Republic, which holds the European Union’s rotating presidency, will summon the gathering to debate “concrete” measures to tackle the energy crisis following an agreement with European Commission head Ursula von der Leyen, Prime Minister Petr Fiala said Friday.

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The Czech leader didn’t elaborate on potential new steps, but earlier this week said he’ll discuss possible price caps with German Chancellor Olaf Scholz on Monday.

The Czechs and some other bloc members are calling for a common policy approach as individual countries aren’t able to shoulder surging energy costs with local measures.

Europe is grappling with the worst energy crisis in decades, with spiking costs of gas and electricity driving inflation, undermining the euro currency and threatening to drag economies into recession as Russia squeezed supplies since its invasion of Ukraine six months ago.

Failure to contain the crisis risks spurring social unrest and political upheaval, if the supply crunch leads to blackouts and cold homes this winter.

Europe’s politicians have already earmarked about 280 billion euros ($281 billion) to ease the pain of surging energy prices for businesses and consumers, but the aid risks being dwarfed by the scale of the crisis.

The Czech Industry Ministry said it’s looking for a specific date for the emergency meeting and wants to convene it “as soon as possible.”

Meanwhile, Ukraine’s deputy prime minister, Iryna Vereshchuk, has announced plans to expand mandatory evacuations for civilians living on the war’s front lines, Reuters reports.

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Speaking on national thelevision, Vereshchuk said evacuating women with children and elderly people would be a priority from some districts of the eastern Kharkiv region and the southern Zaporizhzhia and Mykolaiv regions.

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