Washington always prioritizes its own economic interests, Charles Michel says
President of the European Council Charles Michel © AFP / Valeria Mongelli
The impact of the conflict between Russia and Ukraine is harsher on the EU than on the US, European Council President Charles Michel has said.
According to Michel, security ties between Brussels and Washington have strengthened since the outbreak of the Russia-Ukraine conflict, in which the West is backing Kiev. “There’s unprecedented coordination on the war in Ukraine,” he said in an interview with Italian newspaper Corriere della Sera on Saturday.
But apparently the same can’t be said about economic cooperation, with the European Council head pointing out that “the impact of the conflict on the US is not the same as on Europe.”
Things are easier for America because it is an exporter of energy resources and benefits from spiking gas and oil prices, while the EU “has to pay a heavy price,” he said. “We’re at risk of an economic recession,” the bloc’s chief added.
“European industries pay more for energy and face competition from American ones,” Michel explained.