In Europe, where authorities are struggling to control surging prices of food and fuel. Natural gas flows from the region's main supplier, Russia, have been all but cut-off. That's driven prices of the fossil fuel up to ten times higher. The European Commission says one way they can reduce energy costs, is by capping the price that EU member countries can pay for Russian natural gas. The price caps under discussion are part of a broader plan to rein in runaway energy prices. Brussels wants to limit domestic energy prices to $200 per megawatt hours.

For the details, we spoke to economist Julien Mathonniere from Ravel in France.

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