The European Commission is sticking to the proposal to establish Russia’s oil price ceiling in conditions of the energy crisis, its head Ursula von der Leyen confirmed. “We support the introduction of an oil price ceiling. This measure would also benefit low- and middle-income countries,” the EC head said on Tuesday, speaking at a meeting of G20 countries.

At the same time, she pointed out that the best response to the crisis and dependence on fossil fuels would be to “accelerate the green transition to clean energy. But for now, oil company prices are rising.

“Clean energy is the only answer to both the energy and climate crises. It also offers enormous opportunities on a global scale. In the next five years alone, Europe will invest at least 4 billion euros in renewable energies, such as hydrogen, as part of our Global Gateway investment strategy,” von der Leyen said.

The head of the European Commission expressed the opinion that the G20 is a relevant format for addressing such global issues.

Earlier we reported that the dollar is falling against the euro and the pound, rising against the yen.