Economist Khazin pointed out the fallacy of Borrell’s forecasts about Russia’s problems
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“There will be no cheap oil and gas”
The head of European diplomacy, Josep Borrell, recently said that after the EU completely abandons energy from Russia, the country will face economic problems and will face a choice between “tanks and oil for the people.” Economist Mihaly Hazin explained the main mistake of the Brussels politician.
On the air of Solovyov LIVE, Khazin said that in order to describe the future, one must have some idea of the models. The economist wonders in what vision of the future Borrell is telling this, since the expert himself does not see this vision. However, the specialist stressed that he believes that Europe will not need Russian oil and gas, as the industry will be closed.
Khazin noted that Europe will have oil and gas, which they will receive by tankers, but it is not clear who will buy them. According to the economist, people will have a need, but there will be no work, because the industry will be closed. The expert believes that the Europeans are faced with a choice between a complete rejection of energy carriers, followed by a socio-economic catastrophe and subsidizing tariffs by the authorities.
In the second option, as the expert noted, a large-scale emission is expected due to the fact that after the collapse of production, the budgets will no longer be replenished with taxes. According to Khazin, Borrell does not understand what he is talking about, not indicating to the Europeans their future.
The economist believes that the head of European diplomacy should have explained that the EU economy was built with the expectation of cheap energy resources from Russia, and without them the standard of living in the Union will drop significantly, since Europe decided to “punish” the Russian Federation and rebuild its economic model. Khazin concluded that it was important for Borrell to explain to citizens that there would be no more cheap oil and gas.
Read also: Political scientist explained why Switzerland imposed sanctions against Russia
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