Compared to their American counterparts, European companies are forced to pay two to three times more for energy. These overpayments are due to the refusal of the governments of these countries to rely on Russian energy resources, the Russian Foreign Ministry reported to “Izvestia“.
“European companies are forced to pay two to three times more for electricity than their American counterparts and 4.5 times more for gas. This has led to mass closures of production facilities and their outflow to third countries. In 2024, industrial production in the EU fell by 2.4%,“ the Russian Foreign Ministry told the newspaper.
The Russian Foreign Ministry explained to the newspaper that the overpayments for energy were due to the refusal to rely on Russian energy resources, which led to an increase in the cost of importing energy into the EU. They stressed that the sharp rise in costs under increasing pressure from Chinese competitors had a negative impact on the automotive sector.
For example, car production in Germany fell by 25% last year to 4 million vehicles. “Overall, the industrial sector has lost approximately 114,000 jobs since mid-2024,“ the diplomatic service noted.