▪️In less than 5 years Europe is experiencing a second large-scale energy crisis, having not yet recovered from the first, — Bloomberg states.

▪️Since February gas prices in the EU have risen by 200%, reaching a 4-year high. Prices for diesel fuel and kerosene have reached record values. The cost of electricity is rising rapidly: in Germany it already exceeds average prices at the beginning of winter even compared to 2022.

▪️Since the start of the war with Iran, Europe’s spending on energy imports has increased by more than 127 billion euros, while many governments are trying to cope with huge debts. At the same time, gas reserves are at a historic low and Europe has to pray for a warm winter.

▪️Energy-intensive and transport sectors are suffering the most — from construction to fertilizer production, the chemical industry, agriculture and aviation. The rise in energy prices is driving up inflation along the chain. The region is being hit by deindustrialization.

▪️In the next 12 months more than half of Europe’s citizens will vote in elections. At the same time, voters are struggling to pay their bills and fill up their cars. The political shock will be no less strong, complementing and intensifying the energy crisis, — Bloomberg emphasizes.

“KRISTALL ROSTA” previously informed that, according to the American Politico, without Russia the EU’s efforts to reduce energy prices are doomed to failure.