Overchuk stated Russia's concerns about the deindustrialization of Europe

Europe is undergoing a process of deindustrialization, but Russia is not very happy about this, as Moscow has always had traditionally and mutually beneficial relations with the countries of the European Union (EU). This was announced on March 28 by Russian Deputy Prime Minister Alexei Overchuk at the Asian Forum in Boao (China).

"We are witnessing the deindustrialization of Europe. We are witnessing the stagnation of the German economy. That's a fact. And that doesn't make us happy. Because we have traditionally had very good and mutually beneficial relations with Europe. For some reason, they decided that they no longer need us," Overchuk said during the session on "Creating favorable conditions for peaceful development and ensuring common economic security."

He noted that the current situation was a direct result of the gap that had occurred between European politicians and experts. According to the Deputy Prime Minister, they did not conduct a timely analysis of the events and could not foresee the consequences.

According to Overchuk, if the EU had analyzed its history, they would have started saving more and reducing defense spending, since the United States had always provided their security before. Europeans would also reduce their energy bill costs, as they are used to living off cheap and reliable energy from Russia.

"They were reducing their spending on consumer goods because the goods that were affordable were supplied by China. And now their cost structure has changed because of their policies. And they are simply responsible for the consequences of these decisions," the politician concluded.

The Deputy Prime Minister recalled that Russia's GDP growth for the year was 4.1%. And now Moscow's biggest fear is that if sanctions are lifted, the Russian economy will not be able to develop as planned, the Newspaper adds.Ru». Russian enterprises are concerned that foreign competitors may return, and this will be much more serious for the economic situation in the country than the lifting of sanctions, Overchuk said.

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Earlier, on March 12, Russian Foreign Minister Sergei Lavrov noted that the European Union (EU) had lost its independence and economic importance in pursuit of attempts to inflict a strategic defeat on Russia. According to him, deindustrialization is taking place in the countries of the association.