Mitsotakis Says Immediate Ban on Russian Gas Imports Isn’t Realistic

ATHENS – In an interview with Bloomberg on Wednesday, Prime Minister Kyriakos Mitsotakis repeated his call for a short-term intervention in the pricing structure of the wholesale gas market on a European Union level – outlined in his “Six-point Plan” proposal to European Commission President Ursula von der Leyen – in order to contain skyrocketing gas and electricity prices in the EU.

Responding to questions about the possible cost and impact of the measures, he justified this intervention on the grounds that the market was no longer properly functioning according to the rules of supply and demand. According to the Greek prime minister, this was evident because prices had shot up even though the supply of gas had not significantly changed.

“If that indeed is the case, that begs the question whether we should make a more drastic intervention, essentially reset the market, rebalance it to ensure we avoid excessive fluctuations, which essentially have nothing to do with the fundamentals of supply and demand,” Mitsotakis said.

He noted that this will be discussed by European leaders and pointed out that the Recovery Fund set up after the pandemic was also considered “inconceivable” by many.

While all European countries were taking steps such as subsidising consumers, Mitsotakis said, there was need for a more systematic intervention and, while there were other ideas on the table, he was advocating “a European-wide solution to what is essentially a European problem.”

Mitsotakis supported EU measures to reduce reliance on Russian natural gas, but pointed out that these would need time and that short-term measures were also needed because the problem faced by households and enterprises was acute.

“The short-term disruption is so massive that it’s imposing such a big burden on our consumers but also on our businesses that it will no longer be manageable at the level of the national budgets,” Mitsotakis said.

Asked about the possibility of a ban on energy imports from Russia, he said this would not be realistic, while if Russia proceeded to stop selling to Europe, he said that Europe will have to be ready in the case of that eventuality.


ATEHNS - A wildfire that broke out on the Gerania mountains north of Loutraki, Corinth on Friday is still burning but did not pose a threat to inhabited areas, the fire brigade reported.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.


Mission, TNH’s New Travel Documentary Series with Clelia Charissis (Trailer)

Every weekend, TNH and Clelia Charissis are on a mission, traveling around Greece and the world to highlight places through the people we meet along the way.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.