President of the Generation Frexit campaign in France Charles-Henri Gallois warned the EU's sanctions against Russia are backfiring, warning a Eurozone recession is now "obvious".
"Some European countries, such as Germany and Italy, are very dependent on Russian gas. You cannot replace it like that. Other European countries, including France will suffer as well because Russia was an important oil supplier," he told Express.co.uk.
"Quite cheap and they did it with contracts in euros. Now, we are buying the same oil but through India or Saudi Arabia with a mark-up and in dollars. As the euro is falling, this becomes even more costly. It’s quite hypocritical as it’s the same for gas - you cannot replace Russian oil like this. You don’t have the facilities nor the equivalent. Economic sanctions are doing more damage to Europe than to Russia. The recession is obvious," Gallois stressed.
The leading Frexiteer also claimed it a "mistake to save the euro", tearing apart the platform from which it was built on while warning it will "die sooner or later". He labelled the sanctions against Russia "suicide for Europe", urging the EU to stop the brutal punishments or else the continent risks plummeting into the biggest financial crisis it has ever experienced.
Gallois continued: "The higher energy cost will lower the demands for all the other products, all the while with the other products' prices increasing as well. It was a mistake to save the euro, which was badly built from the beginning and will die sooner or later. The sanctions against Russia is a suicide for Europe. Economic sanctions that hit you more than Russia is totally stupid.
"We should stop sanctions and focus on a peace to avoid Europe suicide. If we don’t do it, Europe will face maybe the biggest financial crisis of its history," the President of the Generation Frexit campaign said.
