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EU Set to Target 15% Reduction in Natural-Gas Use on Russian Supply Woes

  • European Commission drafts voluntary demand-reduction targets
  • Europe is preparing for potential gas-supply cutoff by Moscow
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WATCH: The European Union is bracing for a potential full cutoff in Russian gas supply. Su Keenan reports.Source: Bloomberg
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The European Union is set to propose a voluntary 15% cut in natural gas use by member states starting next month on concern Russia may halt supplies of the fuel.

The goal would be embedded in a regulation accompanying a demand-reduction plan the European Commission is scheduled to unveil Wednesday to cope with a potential full cutoff by Moscow. The measure also would include a mandatory trigger if the situation worsens and voluntary curbs are insufficient, according to three EU diplomats with knowledge of the matter.