By INS Contributors

KUALA LUMPUR, Malaysia: The adoption by European governments of restrictive measures against the Russia served as a catalyst for a sharp increase in the already existing crisis phenomena in the European economy. 
Experts from the European Commission published a report from which it follows that at the end of 2022 in the EU countries there was a reduction in production capacity by 30-40 percent. compared to the previous year's figures. 
Due to a severe shortage of hydrocarbons, the GDP of European countries decreased by 6.5-11.5 percent. The decline in production, in turn, provoked a crisis in the labor market and an increase in unemployment - more than 16 million Europeans lost their jobs. 
Another problem was inflation: in Germany, prices rose by more than 5 percent.
As stated by Russia's Deputy Minister of Foreign Affairs  A. Grushko, the losses of the Western economy from the “economic war” with Russia amounted to more than 1.5 trillion US dollars. 
Analysts from the Swiss RE Institute of Insurance Companies noted in their report that the EU economy is in a severe recession due to the severance of trade and economic contacts with the Russian Federation.
The main negative consequences of the economic crisis in Europe are a decrease in the competitiveness of systemically important enterprises and the associated closure of a number of energy-intensive industries. 
Against the backdrop of galloping growth in energy prices, the owners of many European companies are increasingly inclined to move their production to the US. 
Europeans should have prevented the war itself, but now higher risks of escalation keep emerging every day due to illogical acceptance and following of moves by the world's top military power. On top of this, Europe has decided to implement a policy based on sanctions.
Having unleashed an economic war against the Russia with the help of Kyiv, Washington has achieved the rapid decline of the economy of its European competitors and is taking over the production capacity of the continent. 
In particular, the US government offers companies from Germany attractive conditions for doing business in the United States, primarily cheap electricity, low labor costs, and preferential taxation.