In an interview at the “World”, the Commissioner of the Economy evokes the challenges, two years after the appearance of COVID-19, community construction is now faced.
Le Monde
As Moscow’s war in Ukraine pursued many uncertainties on the European Union (EU), the heads of state and government of the twenty-seven must meet Thursday 10 and Friday, March 11 in Versailles. In an interview in the world, the Commissioner of the Economy, Paolo Gentiloni, returns to the challenges, two years after the appearance of COVID-19, community construction is now confronted. The former Italian Prime Minister considers that European history is a new “hinge moment” there. It urges Europeans to adopt new “common tools”, in order to thwart “the stagflation risk before us”.
In Versailles, the Heads of State and European Government will discuss the sanctions that have been taken against Russia. Do you think they were effective?
For the most part, Europeans responded to military aggression with economic and political weapons. The sanctions we took have already weakened the Russian economy. But, on their own, they will not allow to stop Putin and war.
Should we go further? And especially not to import Russian energy?
Nothing is excluded. But we need to take into account the impact that new sanctions could have on our economies. We also need to work on the implementation of the sanctions already decided, in order to prevent the targeted oligarchs who have property in several European countries escape.
Volodymyr Zelensky, among others, accuses the EU finance the Putin War by buying gas and oil. What do you answer?
We have taken strong sanctions that weaken the Russian economy and the means of which Putin has to finance this war. You have to be honest: even if we take new sanctions on energy, it is not certain that it would stop it in the short term. There are many ways to finance military operations, not just revenues for gas, oil and coal exports. And this war will last, whatever the economic sanctions we will take.
Fear that Russian President goes beyond Ukraine and attacks an EU country?
No. NATO has sent clear messages. We strengthen our military presence at NATO level at all borders that may be threatened. I do not think Putin will take such a risk.
Tuesday, March 8, the European Commission presented its strategy for the EU to reduce its dependence on two-thirds Russian energy from here to the end of the year. Is this goal credible?
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