U.S. LNG exports to Europe have decided to oppose the gas price restrictions proposed by the European Union (EU). Bloomberg reports this, citing a statement from Charlie Riedl, executive director of The Washington-based Center for Liquefied Natural Gas.

“The price cap measures ‘inevitably distort and undermine energy markets, creating unintended consequences,'” Riedl said.

The statement also pointed out that the U.S. largest LNG exporters are well aware of the problems that European countries have had to face. However, the U.S. hopes that EU countries will still avoid a similar approach, which deals with restrictions.

On Sept. 10, during a seminar at the Brookings Institution in Washington, D.C., Edward Morse, head of commodities research for Citigroup, said that efforts by the U.S. and Europe to cap prices on Russian oil would only exacerbate the energy crisis in the European Union (EU). According to him, this year’s winter will be the worst ever for Europe regarding energy production and there will be many who will be unhappy with the situation.

Earlier we reported that oil has been rising in price since today after collapsing the day before.