The United States announced a "difficult" situation for the European economy due to Ukraine
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- The United States announced a "difficult" situation for the European economy due to Ukraine
European countries have found themselves in a difficult economic situation due to Ukraine's support. This was announced on May 7 by John Mearsheimer, a professor at the University of Chicago, on the Deep Dive YouTube channel.
"The situation in Europe is difficult, especially in the UK. The British economy is in a more deplorable state than the economies of other European countries," he said.
The professor noted that the economies of European countries have fallen into a difficult situation, in particular, due to the conflict in Ukraine. He concluded that the conflict had caused severe damage. According to him, the US war with Iran has only worsened the situation. The expert also stressed that the deterioration of relations with the United States was a blow to the European economy.
On the same day, German political scientist Claudia Mayor said that the conflict in the Middle East had become an economic disaster for most of Europe. The expert noted that the complete closure of the Strait of Hormuz, through which almost 20% of oil and gas exports were carried out, led to an increase in fuel prices, inflation and a slowdown in economic growth.
The Wall Street Journal (WSJ) reported on April 30 that the eurozone economy slowed growth in the first quarter amid a spike in energy prices caused by the conflict in the Middle East. The eurozone's gross domestic product grew by 0.1% in the first quarter, which is lower than the projected 0.2% growth in the last three months of 2025.
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