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Italy’s dependence on Russian gas down to 25% from 40%, Draghi says

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BRUSSELS — Italy’s dependence on Russia for imported gas has decreased to 25% from 40% last year, Prime Minister Mario Draghi said on Friday following a summit of European Union leaders. Like other EU nations, Italy has been scrambling to diversify its gas imports in the wake of Russia’s invasion of Ukraine and on Tuesday Rome announced initial measures to boost gas storage to overcome shortfalls of gas supplies from Russia.

Draghi said that a possible price cap on gas would be discussed by leaders from the Group of Seven (G7) at a meeting that starts on Sunday, in Germany.

But he added that the main objection to such a cap was fear that Russia could further shut down gas supplies.

He added that the European Commission had agreed to prepare a report on the price cap idea and the electricity market. This would be ready by September and would be discussed by EU leaders at a summit set for October, he told reporters.

(Reporting by Angelo Amante, Writing by Giulia Segreti; Editing by Crispian Balmer)



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