Europe pays three times more for energy abandoning Russian resources - Russian Foreign Ministry

European companies are forced to pay two or three times more for energy than American ones, the Russian Foreign Ministry said.

According to the ministry, European companies have to pay 2-3 times more for electricity than their American counterparts, and 4.5 times more for gas.

This has led to widespread closures of production facilities and their outflow to third countries. In 2024, industrial production in the EU contracted by 2.4%," the ministry said.

The overpayment situation is linked to the shift away from Russian energy resources, which has pushed energy import costs up in the European Union, the ministry told the newspaper, adding that the sharp rise in costs driven by increasing pressure from Chinese competitors has negatively impacted the cars sector.

In particular, the production of cars in Germany fell by 25% last year to 4 mln units, Izvestia reported.

"Overall, the industrial sector has lost about 114,000 jobs since mid-2024," the ministry said.