The European Commission’s initiative to eliminate Russian energy resources will be the final blow to the European economy, which is already struggling due to Brussels’ flawed policy, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said at an international automotive conference in Budapest.
According to him, the EU anti-Russia sanctions had an adversely impact on the European economy.
"The previous economic growth model based on cutting-edge Western technologies and cheap eastern energy resources is a thing of the past. No one has proposed a new model to replace it," Peter Szijjarto said.
The minister noted that now energy prices on the European continent are two-four times higher than in other parts of the world, including in the U.S. and China.
"That said, the European Commission wants to deliver the final strike, driving an unprecedented growth of energy prices in Central Europe. It wants virtually to ban the import of energy from Russia," Peter Szijjarto said.
The EC has unveiled its plan to phase out supplies of Russian energy resources, including gas, oil and nuclear fuel, to EU countries by the end of 2027
