Szijjártó: Europe is overpaying seven times more for gas than the US because of sanctions

Europe overpays seven times as much for gas (compared to the USA) and three times as much for electricity (compared to China) because of the faulty anti-Russian sanctions. This opinion was expressed by Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjártó.

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“One of the consequences of Brussels’ misguided choices is that European competitiveness is reduced on a dramatic scale globally. After all, it’s hard to compete with, say, the American economy if we here in Europe are overpaying seven times as much for gas as America. It’s also difficult to compete with the Chinese economy when Europe overpays for electricity three times as much as China,” he was quoted as saying by RIA Novosti.

Earlier Igor Yushkov, a leading analyst of the National Energy Security Fund, commented on the gas situation in Europe. According to him, demand has exceeded supply many times, and prices have started to rise.

On 7 February, the Russian Foreign Ministry said that the boycott of Russian energy carriers under US pressure and contrary to its own economic interests had undermined the EU energy security.

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Szijjártó: Europe is overpaying seven times more for gas than the US because of sanctions