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Quamera

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11/10/24

00:21

Post #: 76073272
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Originally posted by gve: ↑

EU economy suffering from loss of Russian energy – Orban

“EU productivity is growing at a slower pace than that of our competitors.
Our share of world trade is declining,” he said. He added that EU businesses were facing electricity prices that are two to three times higher than in the US. And when it comes to natural gas, “prices are four to five times higher.”
Half of European companies consider the cost of energy to be the main obstacle to investment, according to Orban. In energy-intensive industries that are vital for the bloc’s economy, production has fallen by between 10% and 15%, he claimed.
“Moving away from Russian energy has endangered the European Union’s GDP growth, while significant financial resources had to be redistributed to energy subsidies and the construction of infrastructure necessary for the import of LNG,” Orban said.
Former European Central Bank president Mario Draghi said last month that the EU’s global economic competitiveness has been substantially eroded due to the loss of cheap energy from Russia.
Its in both the EU and Russia's interests for there to be peace and unhindered trade

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"Its in both the EU and Russia's interests for there to be peace and unhindered trade" Of course it is but its never going to happen while Poo Tin is invading his neighbours. The west was turning a blind eye to Poo Tins transgressions on human rights, killing any one who might threaten his hold on power
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