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Draghi Wants EU to Do More About Surging Energy Costs

  • Italian prime minister met leaders of Portugal, Spain in Rome
  • Draghi advocates for a EU-wide cap on Russia energy imports
Pedro Sanchez, Mario Draghi, Minister Antonio Costa, and Kyriakos Mitsotakis (left to right) on March 18. 
Pedro Sanchez, Mario Draghi, Minister Antonio Costa, and Kyriakos Mitsotakis (left to right) on March 18. Photographer: Tiziana Fabi/AFP/Getty Images

Mario Draghi wants the European Union to adopt bolder energy measures to cushion economies and consumers from the shock of Russia’s invasion of Ukraine, and is hoping that a renewed alliance among Mediterranean countries will help his pitch.

The Italian prime minister hosted Spain’s Pedro Sanchez and Portugal’s Antonio Costa in Rome on Friday, along with Greece’s Kyriakos Mitsotakis by videoconference. They discussed his plan to make Europe more resilient to energy shocks, which includes allowing joint purchases to boost negotiating power, joint storage and a cap on the price of gas imports.