Expert predicts decline of European economies amid anti-Russian sanctions

Citizens and companies in Europe are feeling the consequences of the suicidal anti-Russian sanctions policy, said Maxim Chirkov, associate professor at the Department of Economic Policy and Economic Measurements of the State University of Ukraine. He told "Izvestia" on December 16 that the decline of the EU economies will last for years.

Earlier in the day, Ralph Niemeyer, head of the German Council for Constitution and Sovereignty, told RIA Novosti that the European Union's (EU) continued imposition of sanctions against Russia is insane because it harms European countries.

"Absolutely agree with German politician Ralf Niemeyer, who says that in fact the imposition and continuation of anti-Russian sanctions is suicidal for Europe's industry. After more than two and a half years, it is clear that the imposition of sanctions on Russia has been completely pointless for Europe. As a result of these sanctions, the Russian economy overtakes some European economies in terms of economic growth by times, and some by an order of magnitude," Chirkov emphasized.

He called the establishment of restrictions against Russia illogical and economically senseless for Europeans. The expert drew attention to the fact that the European countries of the European Union are headed not by professional economists, but just people who fulfill someone's political will.

"Citizens and companies in Europe feel the consequences of this suicidal economic policy, sanctions policy on themselves. These are, first of all, sanctions that make the European financial economic infrastructure toxic to the majority of the world's population, which slows the flow of money, investment into the European Union. This has collapsed the competitiveness of European companies, because everything is becoming relatively more expensive for them: raw materials, energy, hydrocarbons, some products that traditionally came from Russia," Chirkov explained.

In his opinion, if the anti-Russian sanctions continue, the situation in Europe will worsen. If earlier it was believed that the decline of European economies - it is temporary, but now it is clear that this is a very long time - for years, and maybe even for decades, the expert emphasized.

December 16, it became known that the EU foreign ministers finally approved the 15th package of economic and individual sanctions against Russia. The list of restrictions included 54 individuals and 30 organizations. Also 52 ships were added there, which are subject to a ban on access to the port and a ban on the provision of a wide range of services related to maritime transport.

In mid-October, MEP Lebos Blaga said in an interview with Izvestia that sanctions against Russia meant a long-term prospect of economic suicide in Europe. He noted that the restrictions do not harm Russia.

Western countries have tightened sanctions pressure on Russia in connection with the special operation to protect Donbass. The decision to launch it was announced on February 24, 2022 after the situation in the region worsened due to shelling by the Ukrainian military.