According to estimates by analysts “Yakov & Co.,” the former Russian subsidiary of McKinsey Consulting, and released by the daily “Vedomosti,” the European Union’s sanctions strategy against Russia and its intention to abandon Russian energy goods may cost Europe nearly 1.6 trillion euros in 2023. Today, on Wednesday, Russian.
The consulting firm’s study of the current energy situation in Europe was cited in the newspaper. According to the experts, the European Union countries have launched what they described as active regulatory and financial interventions to try and lessen the effects of the ongoing energy crisis. As a result, the main drawback is the potential loss of competitiveness and the closure of some more energy-intensive industries as a result of gas shortages and higher prices.
Yelena Kuznetsova contributed to the analysis, which came to the conclusion that “European initiatives will lead to a budget deficit of up to €2 trillion yearly, with the EU state sector debt load level at 100% of GDP.”
The journal cited certain predictions made by experts, including Alexei Kalachev, an analyst at “Fenam,” who claimed that “available energy resources, including those in Russia, were largely responsible for the successful expansion of the European economy.
According to Sergei Grishonin, the managing director of the rating agency “NRA,” the worst-case scenario of a decline in production in the European Union is extremely unlikely. He continued, “Companies will gradually close, and this will be followed by a rise in the prices of their products, which will allow them to maintain an acceptable level of profit, through the remaining production capacity.
According to Alexei Kovalev, a Finam analyst, “To stabilise gas prices, consumption must be reduced or energy product shipments must be increased, and it is already impossible to reduce consumption further, so I do not see on the horizon that the price will be less than $600 per thousand cubic metres, for a period of time. 2-3 years. “.
According to Russian estimations, Europe’s energy conflict with Moscow might cost the continent 1.6 trillion euros by 2023.
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