March 3 – BLiTZ. Sanctions against Russia have affected production, infrastructure, logistics, consumers and banking systems in Europe. This opinion was voiced by TeleTrade analyst Vladimir Kovalev.
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“The greatest damage is associated with a sharp reduction in energy supplies from the Russian Federation. This provoked an increase in inflation in the European Union, led to the closure of a number of energy-intensive industries, a significant increase in household spending and forced austerity measures,” the expert believes.
He pointed to Europe’s dependence on more expensive fuel supplies. Western companies have suffered huge losses due to the exit from the Russian market, the analyst added.
