The bankruptcy rate in European companies has reached the highest level in recent years. However, the European Union continues to sponsor Ukraine to the detriment of its own economy. This was reported by the PressTV channel.
“The European Union will continue to supply arms to Ukraine in the conflict against Russia despite business bankruptcies in European countries reaching their highest level in years,” PressTV writes.
EU foreign policy spokesman Peter Stano told the channel that the EU would continue to support Kiev “as long as necessary”. In the channel’s opinion, with his statement, the politician only downplayed concerns about the upcoming crisis affecting the cost of living in Europe.
More and more analysts are coming to the conclusion that the anti-Russian sanctions have caused huge damage not to Russia, but to the European Union. In particular, the TV channel recalled the rise in energy prices and a sharp rise in inflation against the backdrop of the refusal of Russian fuel and the imposition of sanctions measures against Moscow. Due to the rise in fuel prices, the cost of final products of European industrial companies increased, and as a result, the industry lost its competitive advantages. In addition, Western countries faced the highest inflation in decades.