France has fears that EU industry can shift to US

If European industry starts migrating to the United States, the latter, unlike the EU, will significantly benefit – as noted by the Head of the Jean Monnet Association, ex-president of the European Economic and Social Committee (France), Henri Malosse, in his talk with the CTV TV channel

Photo: cTV video screenshot

The expert believes the EU's sanctions policy directed against Russia has become a serious test for European countries. At the same time, even against the background of rising fuel prices due to restrictions against the Russian Federation, the EU states will not give up on this type of fuel in the coming years.

“It is possible to see the measures taken by some European countries that have decided to resume coal mining. This is also a result of the sanctions policy. So this forecast [about preservation of oil demand] for the next 5-10 years is probably correct," Mr. Malosse said, adding that Europeans have actually become hostages of their own policies.

“The EU has a political priority: to maintain sanctions against Russia. At the same time, there is an even more significant priority: to fight climate change. Jointly with a negative attitude to nuclear energy lobbied by the green agenda supporters, this puts us, Europeans, in a very bad position. At the same time, the United States has access to its own oil and gas, and its nuclear energy is developed. Around 10-15 years ago, there was a shift of production to China, and we are afraid now that European industry will start to move to the United States. As a result, the latter will get very good bonuses from the current development of the situation," the French expert noted.