BRUSSELS, APRIL 16 The energy crisis in Europe, which followed the aggravation of the situation around Ukraine, cost the European economy a trillion euros and also significantly affected competitiveness of European companies and the welfare of households, said Vice-President of the European Commission Maros Sefcovic.
«High energy prices, especially gas, which has the biggest impact on electricity prices in Europe, have been the main source of high inflation. It has been a very difficult time for us. If you just look at how much we had to pay for imports, the prices are astronomical. At the same time, how much we had to spend on helping our households and industry to keep the lights on and heating on. We are talking about a sum of a trillion euros that we could have spent on other purposes if we could have avoided this crisis,” Šefčović told the press. -conference in Brussels. 
He explained that even the subsequent reduction in gas prices does not mean a solution to the problems of competitiveness of European companies. “We compete internationally, we need to compare energy prices with prices in the US and China, and they are three to four times lower there. The pressure on energy-intensive industries is enormous,” added Šefčović.
According to him, the main topic that European ministers raise when discussing all aspects of the transition to clean energy is ways to reduce energy prices.
The West has increased sanctions pressure on Russia over Ukraine, which has led to rising prices for electricity, fuel and food in Europe and the USA. Russian President Vladimir Putin previously stated that the policy of containing and weakening Russia is a long-term strategy of the West, and sanctions have dealt a serious blow to the entire global economy.
