The European Commission is now expected to submit a proposal for a price cap imposed on all gas imports from Russia this month, according to Italian Ecological Transition Minister Roberto Cingolani. According to a statement he made in an interview Saturday with la Republica newspaper,  the Commission has already outlined the general terms of the plan, and so far it has the backing of 15 member states, including Germany.

Cingolani said, “The proposal will be issued in September. We are currently working to have a majority to support it.”

Sanctions imposed on Russia, as well as Russia’s cessation of gas flows through the Nord Stream 1 pipeline due to technical issues have caused gas prices to rapidly rise throughout the bloc for several months. Analysts see prices rising even higher as winter closes in, and demand rises due to the copious use of natural gas for heating throughout the EU, on top of its use for electricity generation and manufacturing processes.

The EU had already announced a plan to reduce gas usage by 15% between August 1st and March of 2023. However member states have discretion over the specific measures they use to achieve the reductions, and it is not clear the degree to which member states will adhere to the restrictions.

Politico reported earlier this week that the current plan includes measures such as a reduction in energy consumption, price caps on Russian gas imports, support for utility companies which are stricken by high energy prices. and the imposition of additional taxes on fossil fuel companies which enjoy particularly high profits. The package is expected to be approved on September 14th.

It is not clear what Russia’s response will be to the imposition of price caps on gas sales. Russia has previously stated that it will deny any fuel sales to any state which seeks to purchase fuel at a capped price. It is possible this measure will remove all Russian gas supplies from the European market, which would substantially increase prices for the fuel across the bloc.

According to a report from the Financial Times, at least ten EU countries want to impose a price cap on imports for all suppliers, not just Russia. Italy, Poland, and Greece have all indicated they want to expand the cap to all suppliers. At the same time, Hungary, Austria, and the Netherlands have all opposed any imposition of a price cap, fearing it will only limit supplies of a commodity which is already in a very tight market. This would seem to make the future of the proposed cap uncertain.