Scholz: “Progress on energy security”

German Chancellor Olaf Scholz said that the European Union (EU) Leaders' Summit made significant progress on lowering energy prices and energy security.

German Chancellor Scholz stated at the press conference following the EU Leaders' Summit that a very intense and important summit was held. Stating that the EU stands by Ukraine, Scholz emphasized that the EU stands together in the Russian-Ukrainian War and in overcoming its consequences. Scholz said that the summit aimed to reduce energy prices and ensure energy security and added: "We have made significant progress here." Pointing out that the energy ministers now have a concrete framework to agree on the negotiations on the details, Scholz said, "I hope this can be achieved. Otherwise we will step in. It would be good if this can be avoided." Scholz was asked, "Before the summit there was an impression that you were against the gas price ceiling, but there was an agreement. Why did you change your mind? Is it because of your bilateral meeting with French President Emmaneul Macron?" he responded as follows: "You may have noticed that in my speech in the Bundestag before the summit I referred to the proposals of the EU Commission. The Commission has a very good proposal. This is part of what we have now agreed on. We have said that we want to prevent these extreme price fluctuations. This is not about a general upper price limit, this is about extreme price fluctuations. Sometimes it happens within a day or from one day to the next, sometimes it happens within just two or three hours. The Commission already had a proposal on this." Stating that he does not believe that they are in a position to determine prices unilaterally in global markets, Scholz said, "The only thing we can do is to fight speculation that gives false information about the real prices in the market." Prime Minister Scholz stated that EU countries will buy gas together in order to fill the gas stores for 2023. Pointing out that relations with China were also discussed at the summit, Scholz shared the information that constructive exchanges and evaluations were made here and that he will visit China at the beginning of November. Upon being reminded that Ukraine and the Baltic states demanded the establishment of a tribunal to prosecute Russia for "war crimes", Scholz said, "There is an International Criminal Court doing its job, which I value very much and which we need to strengthen." Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!