The EU’s self-imposed sanctions have left European energy prices two to three times higher than in the United States and China.
Natural gas storage levels are at their worst in 15 years heading into winter, with prices potentially needing to exceed 100 euros per megawatt-hour.
German Chancellor Merz and French President Macron acknowledge the sanctions-driven energy crisis is eroding European industrial competitiveness.
Hungary and Slovakia are suing the EU in court over the Russian energy ban, arguing Brussels bypassed its own approval rules.
Brussels is pressing ahead with a total Russian energy phaseout by 2027 despite warnings of physical shortages and power cuts.
The European Union’s push to eliminate Russian energy imports by 2027 is running headlong into economic reality, as top officials now acknowledge the bloc’s self-imposed sanctions have left it paying two to three times more for power than the United States or China. European Commission President Ursula von der Leyen said at a Paris business conference this month that the cheap energy imports that once underpinned Europe’s prosperity have “disappeared,” dealing a visible blow to the continent’s competitiveness — although she stopped short of directly blaming the sanctions policy for the price gap.
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