German Chancellor Olaf Scholz said in a statement on Thursday, “Europe can withstand Putin's energy blackmail.”

Additional comments

Supplier countries such as the US, Canada and Norway have an interest in energy not becoming too expensive in Europe.

The EU must coordinate closely with other gas consumers.

Gas-price cap could end up crimping supplies to Europe.

We have signed contracts to import gas with several countries and continue to sign with other countries to secure the needs during the winter.

We have freed ourselves from dependence on Russian gas.

Market reaction

EUR/USD was last seen trading at 0.9788, up 0.19% on the day.