European Union ‘Social Market Economy’ Might Redistribute Fossil Fuel Profits

European Commission President Ursula von der Leyen said on Wednesday that the European Union might redistribute profits from fossil fuel companies and impose energy consumption limits.

The bloc is currently weighing various measures to help member states cope with a freeze in Russian energy exports — including natural gas shipments through the Nord Stream 1 pipeline, which Russia paused in reaction to Western support of Ukraine. In her State of the Union address, von der Leyen asserted that Russia is largely responsible for the energy crisis.