EU Mulls Capping Gas Price as Energy Costs Spike on Iran War

The European Union is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission President Ursula von der Leyen said on Wednesday. The price spike in oil and gas prices during the ten days of war have already cost the European taxpayer an additional 3 billion euros, or $3.5 billion, in fossil fuel imports, von der Leyen told the European Parliament today. “Households and companies face pressure now. So we must deliver relief now,”…