EU has ‘shot itself in the lungs’ by continuing Russian sanctions, says Viktor Orban

The EU’s Brussels-based executive warned that as the war drags on, the economic consequences are “turning grimmer, highlighting huge uncertainties over energy and grain supplies.”

Paolo Gentiloni, the EU’s economy commissioner, said: “Russia’s unprovoked invasion of Ukraine continues to send shockwaves through the global economy.

“Moscow’s actions are disrupting energy and grain supplies, pushing up prices and weakening confidence.

“With the course of the war and the reliability of gas supplies unknown, this forecast is subject to high uncertainty and downside risks.”

Economic growth in both Germany and France, Europe’s largest economies, is expected to slow this year and in 2023.

Projected GDP growth for the EU remains at 2.7 per cent this year, but is now expected to fall to 1.5 per cent in 2023, down from a previous forecast of 2.3 per cent.

Record levels of…



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