Business & Economy

How Russia set the euro trap?

The Italian newspaper revealed that the European Union, after all the measures it has taken against Russia, bears greater financial risks than America in this regard because it does not depend on Russian energy resources like Europe.
The report states: “The euro has weakened as a currency for international trade because Russia is no longer using it as an alternative to the dollar.”
The author of the report also believes that the euro is now “trapped” and suffering from inflation, due to the tightening of US monetary policy on the one hand, and on the other hand because of Russia.
The Italian newspaper reported that Russia had set a “trap” for the euro. Over a month and a half, the European currency fell against the Russian ruble by more than 45%. The dollar strengthened its positions against the euro, as its secondary role, and this weakened the European Union’s economy.
The author of the report explains who is responsible for the EU’s ill-considered policy, he believes that the unclear situation regarding additional energy supplies, as well as Moscow’s anti-sanctions measures, have led to the fact that the sanctions themselves have the opposite effect and affect more “those who imposed them”.
Western countries imposed unprecedented sanctions on Russia, targeting the country’s financial and economic sector, in an attempt to stop the Russian special military operation in Ukraine, which began on February 24.
Earlier, Russian President Vladimir Putin specified the tasks of that operation, which is to eliminate Ukraine’s military and Nazi tendencies in this country, and to protect the citizens of the Lugansk and Donetsk People’s Republics, from the bombing and continuous attacks by Ukrainian forces.

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