Part 5/9:
The broader implications of these developments for the European economy are significant. The potential for rising energy costs threatens to undermine industries that are already grappling with the consequences of previous energy crises. For example, Germany has retracted its power subsidies; any subsequent rise in gas prices could lead to an untenable financial burden for its industries.
Officials from Hungary have voiced their frustrations regarding the sanctions, noting that they are a direct affront to national sovereignty, as they still heavily rely on Russian gas imports. In essence, while the sanctions intend to disrupt Russian revenues, the ultimate victim may well be European consumers and businesses.