G7, Draghi: “Putin must not win, united with Ukraine”

“If Ukraine loses, all democracies lose”, the premier’s words according to sources present at the summit of leaders

Russian President Vladimir Putin “must not win. We stand united in support of Ukraine”. The Prime Minister said so Mario Draghi during the session of the G7 dedicated to Ukraine, we learn from sources present in Elmau. “We are united with Ukraine – he continues – because if Ukraine loses, all democracies lose. If Ukraine loses, it will be more difficult to argue that democracy is an effective model of government.”

Draghi thanked Ukrainian President Volodymyr Zelensky “for the exceptional welcome to Kiev. The decision to give Ukraine candidate status for the EU is important for Ukraine, but also for the European Union. The European Union it has profoundly changed its attitude towards neighboring countries, its long-term strategy. It is a very important change “, said the premier, reiterating concepts already expressed last week in Brussels.

“The Italians – Draghi recalls – welcomed the Ukrainians, their children. The government did its part, but the local authorities, the families, did the most important part”.

The prime minister takes the point and also reiterates at the G7 meeting on the Bavarian Alps that “we must continue to work on how to impose a ceiling on the price of gas”, we always learn from present sources. The premier has been asking for months, at the EU level, for a European price cap to be decided on the price of methane, which skyrocketed after the outbreak of the war in Ukraine, added to the effects of post-Covid bottlenecks.

The Nordic countries, in particular the Netherlands but also Germany, have so far opposed, mainly out of fear that Russia will cut gas supplies even further. Draghi has repeatedly pointed out that Moscow has already cut its methane supplies but, thanks to the fact that every announcement of supply cuts pushes prices up, it collects “more or less the same figures” as before. And he also explained, on several occasions, that the high inflation affecting the Eurozone and the EU in recent months is not induced by an overheating of the economy, but by increases in the prices of basic goods such as energy sources.

As it happened in the 1970s, he reminded those with “short memories”, price increases on similar goods, if not dealt with in time, spread to other sectors of the economy, causing generalized inflation, like the one we are currently in. observing in these months. Inflation that the ECB is preparing to fight by raising interest rates. Yet, the EU continues to postpone: the Commission’s report on how to deal with energy price increases, requested by the European Council at the end of May, was postponed to September, to be discussed by leaders at the October summit, when we will be upon us of the cold season. Draghi, therefore, took the opportunity of the G7, where the US is pushing for a price cap on Russian oil, to reiterate the need to introduce a ceiling on the price of Moscow gas, which on paper should not be as complex as the price. cap on crude oil, given that the EU accounts for 75% of the world gas market via pipeline.