«Problems of economics and management of oil and gas complex»

Impact anti-Russian energy sanctions on the EU economy

UDC: 338.9
DOI: 10.33285/1999-6942-2023-5(221)-43-48

Authors:

¹ National University of Oil and Gas ″Gubkin University″, Moscow, Russia

Keywords: sanctions, energy, economy, energy poverty, European Union, Russia

Annotation:

The authors of the article consider the consequences of the sanctions imposition against the energy industry of the Russian Federation. The impact of anti-Russian sanctions on the economy and energy of the European Union states is analyzed. The authors of the article reveal the inflation level increase, growth of both the general unemployment and among young people. The impact of energy prices increase in Europe after the introduction of anti-Russian sanctions on the industry and agriculture of the EU states is shown. Anti-Russian sanctions have led to the energy poverty of the inhabitants of the European Union countries as well as to the deterioration of their social-economic situation. All these facts could eventually bring splitting of the European Union.

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