EU loses 1.3 trillion euros after refusal from Russian energy resources

The Vedomosti publication reported that the EU countries lost 1.3 trillion euros after refusal from Russian energy resources.

‘Taking into account all indirect effects, the total losses of the EU economy exceeded 1.3 trillion euros, or 2.4 per cent,’ the publication said.

In ‘Vedomosti’ calculated that EU residents lost 1.6 trillion euros of income, and for energy imports in 2022-2024 EU countries overpaid 544 billion.

At the end of January this year, the President of the European Commission Ursula von der Leyen said that the Western countries ‘paid a high price for achieving freedom from Russian energy resources’.

In addition, the head of the EC emphasised that after the refusal from Russian energy carriers, a number of enterprises ‘faced exorbitant electricity costs’, which led to the closure of some production facilities. At the same time, the chemical and automotive industries are ‘on the verge’.

Earlier, Alexander Alyoshin, a senior researcher at the Primakov Institute of World Economy and International Relations of the Russian Academy of Sciences, said that the Russian special military operation did not lead to a synergistic effect in the cooperation between the EU and NATO.