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EU Seeks to Ease Crisis But Battles Lie Ahead: Energy Update

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WATCH: EU energy ministers are looking at steps to prevent Russia’s gas supply cutoff from unleashing rationing, blackouts or even social unrest. Maria Tadeo reports.Source: Bloomberg
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European Union ministers on Friday asked the Commission to come up with emergency liquidity measures to help strained energy markets, as well as severing the link between expensive gas and power prices.

The bloc, suffering from an unprecedented energy crisis, is increasingly desperate to prevent price surges from hammering the economy. After meeting in Brussels, ministers called for steps to skim off energy companies’ profits, while there were no concrete measures to force a reduction in demand -- the crucial factor.