Meloni, an Italian diplomat, says that economic pressure on Russia is key to peace.

When asked if Europe should lift its ban on Moscow gas imports, Italian Prime Minister Giorgia Mello said that economic pressure was still the "most effective weapon" for putting pressure on Russia to end its conflict in Ukraine.

Meloni made his remarks on the sidelines a wine fair after the chief of energy group Eni stated that the EU restrictions should be re-examined as the bloc deals with the impact of the Iran conflict in the energy supply.

The U.S. and Israel war against Iran has led to a closure of the Strait of Hormuz. This waterway normally transports about a fifth to most shipping of global LNG.

Meloni said that the economic pressure we've exerted over the years on Russia is the most powerful weapon for building peace. We must therefore be careful how we proceed.

Moscow will be banned from importing liquefied gas under short-term contracts starting April 25, and on long-term agreements beginning January 1, 2027. Claudio Descalzi, Eni's CEO, said that it was not clear how to replace the 20 billion cubic metres of Russian LNG.

Meloni said that she hopes progress can be made towards peace before the ban comes into effect. She spoke in Verona in northern Italy, where she is scheduled to meet with President Volodymyr Zelenskiy on Wednesday.

Her far-right League Party, which has?often expressed pro-Russian views, also urges her to reopen Moscow's supplies.

Matteo Salvini, the leader of the party, said that he discussed on Tuesday with Economy Minister Giancarlo Giorgetti a plan to freeze energy prices before the Iran War broke out on 28 February. He did not give any details about the potentially expensive move.

(source: Reuters)