Lavrov: USA plans to suppress European economies next

USA's next step is to suppress European economies

The future plans of the United States include the economic suppression of Europe, Russian Foreign Minister Sergei Lavrov believes, RIA Novosti reports.

According to Lavrov, "there is no doubt that this was part of the plans of those who live in the awareness of their country's exceptionalism."

The process of such economic suppression has already begun, Lavrov said.

To substantiate his point of view, the Russian minister recalled statements from European leaders about "the laws that the Americans adopted to fight inflation." Germany and France are now particularly concerned about the new US law, Lavrov said.

The German industry usually looks in the direction where there are benefits.

"Those benefits are clearly discriminatory. They are clearly aimed to undermine European industry,” the Russian Foreign Minister concluded.

In January, France and Germany agreed on an "ambitious European response" to the new law of the United States.

"We will have a common European strategy that will lead to an ambitious and rapid response,” French President Emmanuel Macron said.

Europe's current concerns are related to the $369 billion US tax relief package to support US green business. The new Inflation and Climate Act (Inflation Reduction Act, IRA) came into effect on January 1, 2023. It considers a possibility to reduce taxes and benefits in energy supplies for the companies that open in the United States. European officials believe that the law will force companies to switch their investment plans from Europe. In addition, it will encourage people to consumer American products.

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Author`s name Editorial Team
Editor Dmitry Sudakov