Russian Foreign Minister Sergey Lavrov has warned that the new trade deal between the United States and the European Union will inevitably lead to Europe’s deindustrialization. Lavrov stated that American energy resources are “significantly more expensive” than Russian ones, which he believes will deliver a “serious blow” to European industry and agriculture, prompting capital flight.
Lavrov’s caution follows US President Donald Trump’s announcement that the EU had agreed to purchase $750 billion worth of American fossil fuels. The Russian minister argued that this shift to more expensive energy sources will result in a loss of competitiveness for European companies, leading to the reallocation of investments and a decrease in the continent’s manufacturing capacity.
Lavrov also criticized European leaders, such as European Commission President Ursula von der Leyen, for reportedly “openly boasting” about pursuing this path. The Russian rhetoric suggests that Europe is falling into an economic trap, trading energy dependence on Russia for dependence on the US, but at a much higher cost, which, in the long term, would undermine the continent’s industrial base.
