‘Putin Decides Electricity Prices in Europe Every Day’ – Austrian Chancellor

Austrian Chancellor Karl Nehammer has called for an end to the "madness prevailing in fuel markets" and urged to "not allow Putin to set energy prices," reports Reuters.

“We must finally put an end to the madness taking place in energy markets. And this can only happen through a European decision,” said the head of the Austrian government.

Nehammer added that the market, in its current form, will not self-regulate, and urged EU countries to work together to immediately halt the "explosion of prices."

“We must not allow Putin to decide the price of electricity in Europe every day,” the politician concluded.

Austria is one of the countries with the highest consumption share of Russian gas. Its industry is heavily dependent on Russian fuel.

Western countries, including Austria, are facing rising energy prices due to the imposition of sanctions against Moscow and the political move to abandon Russian fuel. The increase in fuel prices, primarily gas, has significantly diminished manufacturing's competitive edge in the West, impacting various other sectors of the economy.