News: July 26, 2022. European Union Members Agree to Reduce Gas Consumption

The European Union Members agreed to reduce the consumption of natural gas by 15%. By doing so the expect to reduce their dependency on Russian natural gas. The agreement was not backed by Hungary. Presently the reduction is voluntary, but it would become mandatory if Russia decides to shut off the gas flows completely.

Russian natural gas flows are currently reduced due to maintenance issues regarding turbines in Nordstream 1.

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This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.