https://sputnikglobe.com/20241009/refusal-to-buy-russian-energy-endangers-eus-economic-growth---orban-1120483293.html
Refusal to Buy Russian Energy Endangers EU's Economic Growth - Orban
Refusal to Buy Russian Energy Endangers EU's Economic Growth - Orban
Sputnik International
The fact that the European Union is refusing Russian natural gas has significantly endangered the bloc's economic growth, forcing it to focus on its own energy infrastructure, Hungarian Prime Minister Viktor Orban said on Wednesday.
2024-10-09T09:43+0000
2024-10-09T09:43+0000
2024-10-09T09:43+0000
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He added that this move spurred on an increase of energy prices.The West stepped up sanctions pressure on Russia after the start of the special military operation in Ukraine in 2022. Russian President Vladimir Putin said that the West's long-term strategy of containing Russia was hurting the global economy instead. In June, the EU approved the 14th sanctions package against Russia. For the first time it is targeting gas, banning re-exports of Russian LNG in EU waters and prohibiting new investments and services in LNG production projects in Russia.
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energy crisis in europe, cost of living crisis, energy prices, inflation eurozone, orban inflation, orban eurozone, orban economy, orban energy prices, orban energy costs,fuel poverty
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Refusal to Buy Russian Energy Endangers EU's Economic Growth - Orban
MOSCOW (Sputnik) - The fact that the European Union is refusing Russian natural gas has significantly endangered the bloc's economic growth, forcing it to focus on its own energy infrastructure, Hungarian Prime Minister Viktor Orban said on Wednesday.
He added that this move spurred on an increase of energy prices.
"The EU productivity is growing at slower pace of our competitors, and our share of global trade is going down. EU businesses are paying two to three times more in energy prices than in the United States, and this is four to five times when it comes to natural gas. Moving away from Russian energy has endangered EU GDP growth and we now need to focus on energy support and building infrastructure for liquefied natural gas [LNG]," Orban said at the plenary session of the European Parliament.
The West stepped up sanctions pressure on Russia after the start of the special military operation in Ukraine in 2022. Russian President Vladimir Putin said that the West's long-term strategy of containing Russia was hurting the global economy instead.
In June, the EU approved the 14th sanctions package against Russia. For the first time it is targeting gas, banning re-exports of Russian LNG in EU waters and prohibiting new investments and services in LNG production projects in Russia.
