Sanctions Amid Crisis: Zakharova Accuses the EU of “Economic Suicide”
Economy
As tensions escalate in the Middle East and the risk of disruptions to oil supplies grows, Europe is considering new sanctions against Russia. Moscow warns that such steps could lead to serious economic consequences for the European Union itself.
Russian Foreign Ministry spokesperson Maria Zakharova said that the discussion within the European Union about new restrictive measures against Russia looks like “madness and economic suicide” amid global instability.
In an interview with RIA Novosti, Maria Zakharova stated that the EU is making decisions without taking into account the rapidly changing global economic situation. According to her, energy markets are already under pressure due to the sharp escalation in the Middle East.
She noted that Western countries previously justified sanctions by referring to Russia’s actions and the need to defend democracy in Ukraine. However, she argued that European authorities are now ignoring the broader international context and potential risks for their own economies.
The global energy market situation worsened after the United States and Israel launched strikes on facilities in Iran on February 28. Tehran responded with attacks on Israeli territory as well as on U.S. military facilities in the Middle East.
The escalation has already affected global energy transportation. Shipping through the Strait of Hormuz — one of the world’s key routes for oil and liquefied natural gas supplies — has nearly come to a halt.
Around 20% of global supplies of oil, petroleum products and LNG pass through this route, meaning any disruption could significantly affect the global energy market.
In an interview with RIA Novosti, Maria Zakharova stated that the EU is making decisions without taking into account the rapidly changing global economic situation. According to her, energy markets are already under pressure due to the sharp escalation in the Middle East.
She noted that Western countries previously justified sanctions by referring to Russia’s actions and the need to defend democracy in Ukraine. However, she argued that European authorities are now ignoring the broader international context and potential risks for their own economies.
The global energy market situation worsened after the United States and Israel launched strikes on facilities in Iran on February 28. Tehran responded with attacks on Israeli territory as well as on U.S. military facilities in the Middle East.
The escalation has already affected global energy transportation. Shipping through the Strait of Hormuz — one of the world’s key routes for oil and liquefied natural gas supplies — has nearly come to a halt.
Around 20% of global supplies of oil, petroleum products and LNG pass through this route, meaning any disruption could significantly affect the global energy market.
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