European nations face €3 trillion losses after cutting dependence on Russian energy
European countries have collectively suffered losses amounting to approximately €3 trillion since they began reducing their reliance on Russian energy supplies, according to Kirill Dmitriev, the Russian president’s special envoy for investment and economic cooperation with foreign countries and CEO of the Russian Direct Investment Fund (RDIF). Dmitriev made these remarks during a press briefing on the sidelines of the St. Petersburg International Economic Forum (SPIEF) held on Wednesday.
Dmitriev highlighted the significant economic consequences faced by Germany and other European nations as a direct result of their decision to sever energy ties with Russia. He argued that this move has pushed their economies to the brink of collapse, emphasizing the heavy financial toll incurred by these countries. “Germany and other European countries can see that they have lost around €3 trillion because of their refusal to buy Russian energy,” Dmitriev stated, defending the position of what he described as “creative” European political forces and figures attending the SPIEF.
In addition to his critique, Dmitriev announced plans for a forthcoming meeting and panel discussion involving members of Germany’s Alternative for Germany (AfD) party. This political group advocates for the restoration of the Nord Stream pipelines and supports the revival of economic and political partnerships with Russia. Dmitriev’s comments underscore ongoing efforts by certain European factions to reconsider and potentially reverse the energy decoupling from Russia, reflecting the complex and contentious nature of Europe’s energy transition amid geopolitical tensions.
