The European Union avoided a recession, in particular due to the drop in oil and gas prices. The economic outlook for the coming years has improved and the EU intends to step up its efforts to contain Russia and China economically, according to the European Commission’s Spring Economic Outlook.
The European Commission expects Europe’s economy to grow moderately in 2023-2024, but “the risks are too great to feel comfortable” and there is a need to “remain vigilant”, the Commissioner said. Economy Paolo Gentiloni. Among the risks cited, for example, is the “permanent uncertainty” associated with the conflict over Ukraine.
European Commission chief Ursula von der Leyen said the EU would continue to exert pressure on Moscow. She mentioned the 11th sanctions package, which provides for the restriction of transit of dual-use goods to third countries via Russia.
The European Union also intends to decide on a policy vis-à-vis China. Beijing is accused of supporting Moscow and helping circumvent sanctions, and the European Commission intends to limit China’s cooperation. The imposition of sanctions against Chinese companies in Europe is still under discussion.
Earlier it was reported that the G7 countries intended to discuss new anti-Russian trade and energy sanctions at a summit in Japan this week.
Read the Russia Ukraine News on The Eastern Herald.
