Europe Suffers More Than the USA from the Ukrainian Crisis, Says Michel

The Ukrainian crisis affects the European Union and the United States differently. This was stated by Charles Michel, President of the European Council, in an interview with the Corriere della Sera newspaper.

“The impact of the conflict on the United States is not the same as it is on Europe. The U.S. is an energy exporter, while the European Union is suffering from high prices. We face the risk of economic recession. European companies are paying more for energy and are facing competition from American firms,” said Michel.

Commenting on his visit to China, Michel noted that the trip was necessary. “China is an extremely important global player, a permanent member of the UN Security Council. It has connections with Russia. The EU has significant economic interests and ties to supply chains,” emphasized Michel. According to him, “The European Union cannot become a bargaining chip in the competition between China and the U.S.”