European analysts: Western sanctions against Russia are suicide

Stockholm (ST): A group of European analysts warned that the sanctions imposed against Russia appear to be suicidal for the European countries that imposed them and found themselves in a catastrophic situation as a result of them.

A report by Swedish TV Sweep stated that Russia suspended the work of the (North Stream 1) pipeline to pump gas to Europe for technical reasons, and as a result, gas prices increased by an additional 30 percent, which raised electricity prices and all basic industries in Europe were under threat.

The television quoted former Swedish Finance Minister Anders Borg as warning of a general industrial decline that would have dire consequences for the entire global economy. He said, “If the gas pipeline is suspended in the long term, Europe will find itself in a very difficult situation  and it will be unable to solve her own problems.”

For her part, Annika Wenst, chief economist at Nordea Bank, said, “Germany is one of the countries that has advanced the most in the so-called green transition, so it has suffered the most from anti-Russian energy sanctions.”

K.Q.