The EU's self-imposed sanctions have left European energy prices two to three times higher than in the United States and China.
Natural
gas storage levels are at their worst in 15 years heading into winter,
with prices potentially needing to exceed 100 euros per megawatt-hour.
German
Chancellor Merz and French President Macron acknowledge the
sanctions-driven energy crisis is eroding European industrial
competitiveness.
Hungary and Slovakia are suing the EU in court over the Russian energy ban, arguing Brussels bypassed its own approval rules.
Brussels is pressing ahead with a total Russian energy phaseout by 2027 despite warnings of physical shortages and power cuts.
The
European Union's push to eliminate Russian energy imports by 2027 is
running headlong into economic reality, as top officials now acknowledge
the bloc's self-imposed sanctions have left it paying two to three
times more for power than the United States or China. European
Commission President Ursula von der Leyen said at a Paris business
conference this month that the cheap energy imports that once
underpinned Europe's prosperity have "disappeared," dealing a visible
blow to the continent's competitiveness — although she stopped short of
directly blaming the sanctions policy for the price gap...<<<Read More>>>...
