Washington continues to exacerbate the Ukrainian crisis by increasing arms supplies to the Armed Forces. At the same time, the main burden of US intervention in the conflict has to be borne by its European allies, which are facing rampant inflation and skyrocketing energy prices, Press TV has reported.
European countries bear the brunt of Washington’s interventionist policies. They are struggling with rampant inflation and soaring energy prices “caused by the US-fueled conflict in Ukraine,” Press TV reports.
The eurozone recorded record inflation of 8.6 per cent last month, more than four times the 2 per cent target set by the European Central Bank (ECB). Fuel rose by almost 42% and semi-finished goods by 11.1%.
The ECB took the unprecedented step of raising its interest rate for the first time in 11 years in order to curb price rises. Nevertheless, the European Commission is painting the continent a gloomy picture of the future. It predicts that EU inflation will remain high throughout 2022 and 2023.
“The impact of high inflation on purchasing power, persistent supply constraints and greater uncertainty are having a dampening effect on the economy,” said ECB chief Christine Lagarde. – Taken together, these factors significantly cloud the outlook for the second half of 2022 and beyond.”
Furthermore, earlier European Commissioner for Economic Affairs Paolo Gentiloni admitted that the bloc is already “in choppy waters, if I may say so”. He said the EU needs to prepare for the worst, including increasing winter fuel supplies, diversifying energy suppliers and helping vulnerable households in the face of high inflation.
Meanwhile, the Pentagon announced a new $775m military aid package for Ukraine, including HIMARS missiles, artillery and demining systems. In total, the US has so far handed over more than $8bn worth of weapons to Kiev, Press TV draws attention.
Russia has repeatedly warned that Western arms deliveries to Ukraine exacerbate the situation and may lead to unpredictable consequences. The other day, Vladimir Putin accused the USA of deliberately prolonging the conflict in order to preserve its global hegemony, the channel reminds.
What’s more, Europe is at risk of an energy crisis. The day before, Gazprom warned that it would halt the supply of blue fuel through Nord Stream for three days at the end of the month for maintenance.
The repairs to the pipeline are likely to heighten the energy stand-off between Moscow and Brussels. This confrontation has already contributed to rising inflation in the region and increased the risk of recession, Press TV stresses.
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