EU could end penalties for companies that break Russian gas contracts

European Commission is considering plans to allow energy firms to declare force majeure, absolving them of obligationsThe European Commission is considering plans that would allow European companies to break long-term Russian gas contracts without paying penalties to Moscow, it has been reported.Citing three officials with knowledge of the plan, the Financial Times reported that the commission was studying the possibility of allowing companies to declare force majeure, which would absolve importers of their obligations to pay penalty fees for ending contracts. Continue reading...