MEP Tamás Deutsch said the measures of the European Commission in response to the Russia-Ukraine war have backfired, weakened the European economy and caused “rampant” inflation.
Deutsch told the plenary session of the European Parliament on Wednesday that the commission’s new proposals won’t solve the emerging crisis. EC President Ursula von der Leyen told the EP that EU sanctions had caused the Russian financial system “to fight for its life” and its industry to collapse. She said the EU was committed to standing by Ukraine in the war and would support the country’s reconstruction for the long haul to the tune of hundreds of billions of euros, noting the EU’s decision to donate 100 million euros for the reconstruction of Ukraine’s schools.
In his contribution to the debate, Deutsch said that Hungarians who had endured occupation by both Germany and Russia knew what it was like to fight for independence against aggression. “As the son of a Holocaust survivor, I very well know what the inhuman destruction of war means. We are all on the side of those who are attacked,” he said. The EC “promised” that the EU sanctions would bring Russia to its knees when they were adopted early in the summer, he said. “They promised the sanctions would cut to the bone in Russia, not in Europe. They promised the sanctions would bring an end to the war,” he said. “The end of the war is still nowhere in sight, but the energy bills of Europeans have skyrocketed.” Meanwhile, he added, Russia was raking in unprecedented revenues due to sky-high energy prices. “Since sanctions were introduced, inflation has soared, Europeans have become poorer, and Russia richer. Europe is on the brink of a crisis and energy shortages,” he said.
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