“We are all shocked by the war crimes we have seen in Bhutan and the area around Kyiv. This will strengthen our response and our determination to support Ukraine,” said Economy Minister Paolo Gentiloni, who is attending a Eurogroup meeting today. in Luxembourg.
Asked if the EU was ready to take action to hit Russian gas or oil, Gentiloni said: “The European Commission says no measures are out of the question. Certainly these images we have seen deserve further reaction. We are already preparing a new one. “package of sanctions and we will see if in the coming days there are the political conditions to extend it further.”
The Economic Commissioner also said that the current Eurogroup will assess the economic impact of the Russian invasion of Ukraine. “It is too early to estimate how much growth will slow down, but it is certain that we will not have the level of growth we expected,” Gentiloni said, as the Commission in early February had forecast 4% growth for the EU in 2022. Member States will jointly assess the situation, based on the Commission’s financial forecasts on 16 May. “Given the high inflation, but also the joint investment programs,” the overall picture will not be characterized by a recession, “the Economic Commissioner predicted. “Of course there are risks,” he acknowledged, “but our economies will keep growth low.”
Finally, P. Gentiloni noted that the measures taken by the EU against Russia have inevitable costs and for the EU itself, however, they are necessary.
Source: AMPE
Source: Capital
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