The Ukrainian crisis is casting its bitter shadow these days on the living life on the European continent, especially after the effects of the negative economic repercussions of that crisis began to unfold and appear on the European economy.
The Europeans, four months after the outbreak of the Ukrainian crisis, are now facing a significant damage to the standard of living, as that crisis led to high fuel and food prices in various European countries, which threatens to undermine the economic recovery there.
The rise in crude oil prices in global markets as a result of the war in Ukraine and the US decision to ban Russian oil imports led to the largest jump in gasoline prices, whose price in the Czech Republic reached $2.08 per liter, while the price of spot gas contracts in Europe exceeded the level of $1,500 per thousand cubic meters. .
German Economy Minister Robert Habeck acknowledged this week that his country was facing a shortage of gas in light of a decline in supplies from Russia due to technical difficulties on the North Stream gas pipeline, a gas pipeline from Russia to Germany that passes through the Baltic Sea, and said that gas had become a commodity. Rare in Germany.
The minister called on residents and companies to reduce their gas consumption. He also announced the start of the second phase of the government's emergency plan to confront the energy crisis.
The Greek newspaper (Proto Tema) confirmed in this context that Europe is returning to coal and is preparing for a harsh winter in light of fears that Russia will cut off natural gas supplies to European countries.
She pointed out that the biggest problem in the European economy is inflation, expecting that Europe will face difficult times in the coming months with the intensification of the economic war with Russia.
The newspaper also said that Russia can resist Western sanctions, especially that Moscow has moved in recent days to retaliatory measures such as reducing Russian gas supplies to Europe by 40 percent, indicating that Europe will face horrific scenarios on its way to achieving independence from Russia in the field of energy.
There is no doubt that the Europeans have begun to pay the price for that war, which Washington ignited and worked to implicate European countries in it, while Western economic measures did not affect Russia, whose currency is witnessing an increasing rise against the dollar and the euro, and Russian oil and gas products began to move towards Asian markets, especially towards the two giants. China and India.
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