Economic articles

The Old Continent bears the bills

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In the terminology of wars and conflicts, everyone pays the full price, except that every rule has exceptions, and there is one country benefiting from this turmoil, harnessing it for its economy and dominance.

When we zoom in on the major crises in European countries, we can only take the example of the Russian-Ukrainian war, now entering its second year, which has had negative effects on the world in general and Europe in particular.

Ukraine's losses need no explanation, but how did the economic repercussions spread to European countries suffering from economic suffocation and inflation, despite being free from military conflicts and wars on their soil, at least ostensibly? War is a scorpion, not a snake; whether it harms you directly or not, it will hurt you inevitably.

The economic suffocations in Europe began with crises involving gas, extending to car fuel and even wheat crops, all due to the Russian-Ukrainian war. This conflict led European countries to ban the import of Russian gas, which represents 40% of the energy supplies in the European Union.

But what is the alternative? As long as America is present, there is no fear for the world. Hence, the export of American gas to Europe increased by 141%, and not only that, but it was sold at four times the selling price within the United States.

They did not hesitate to find an excuse for these exorbitant prices, claiming that they are private companies, and the matter is subject to supply and demand. This has caused losses to the economy of Europe, such as Germany, whose economy declined by 11%.

As for Britain, the second-largest contributor of military aid to Ukraine after the United States, this war prompted it to change its military doctrine and alter the future outlook of its army and its work context. In 2021, Britain announced its intention to reduce the number of soldiers in the army to 72,500 by 2025.

Regarding the military aspect, the United States is also strongly present. The Department of Defense signed contracts worth hundreds of millions of dollars with major private companies in weapons and aerospace manufacturing, such as Boeing and Lockheed Martin. This dominance allows the United States to deliver military aid to Europe. In this way, Ukraine fights, Europe pays, and Washington profits as the biggest beneficiary of the war

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