In a recent live interview with Radio Kosut, Hungarian Prime Minister Viktor Orban said the EU was wrong to impose sanctions on Russia because of the serious negative impact on the European economy. "At first I thought we were shooting ourselves in the foot, but it turned out we were shooting ourselves in the lungs, causing the European economy to gasp," he said. "Brussels must admit that this was a mistake and that instead of achieving the desired goal, the sanctions have had the opposite effect."
Electricity prices have risen fivefold
Orban said sanctions against Russia have instead penalized Europe itself, which now faces huge economic problems, with electricity prices rising fivefold and gas prices tripling. "Some countries will have to face energy shortages," he said. "Hungary can buy gas, but at a particularly high price." The Hungarian government declared an energy emergency on July 13 and imposed a series of restrictions. Hungary banned energy exports from August 1 under a state of the emergency plan.
The European Union imposed an embargo on Russian oil earlier this summer, which is expected to take effect in a few months. However, Hungarian Prime Minister Viktor Orban pushed through an agreement that the embargo would not cover Russian oil supplied through the Friendship pipeline. Countries receiving oil through the pipeline include Hungary.
According to Bloomberg, the total debt of European energy companies has reached 1.7 trillion euros. The reason is higher costs due to higher oil and gas prices.
Total debt is now at least 50% higher than it was before COVID-19. Debt stood at around €1.1 trillion in the fourth quarter of 2019. Energy companies raised 45 billion euros through bond sales and 72 billion euros in loans in the first half of this year, Bloomberg reported. Bloomberg commentator Michael Blass says the EU needs more than $200 billion to address the current energy crisis.
Affected by a nearly fivefold increase in electricity prices in Europe , the china power distribution cabinet market, as well as the cost of china power distribution cabinet , is changing rapidly . These changes are indicators of market growth. This year-over-year uptrend in the market indicates oval but steady growth between August 2022 and August 2025. If you are looking for a china power distribution cabinet or bulk purchase china power distribution cabinet , please send email to: firstname.lastname@example.org .
The china power distribution cabinet prices continue to be influenced by factors such as market momentum, opportunities and challenges. However, the global china power distribution cabinet sales market is expected to continue to be above average during the forecast period 2022 to 2025. Growth rates will continue to rise. The china power distribution cabinet prices are expected to increase from today through next week.
The cost of china power distribution cabinet is constantly changing due to changing consumer needs, changing import and export conditions, and various investigations into china power distribution cabinet development. The cost of the china power distribution cabinet is also affected to some extent by the macroeconomic parameters, value chain analysis, channel partners, supply and demand of the current market. Expect the cost of china power distribution cabinet to increase slightly between today and next week.
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Leading One-stop Power Distribution and Electrical Automation Solutions Manufacturer the china power distribution cabinet supplier
Shzpower electric Equipment Co., Ltd. (SHZPower) is a long-history high-tech enterprise dedicated to the scientific research, design and domestic and foreign trade of CNC glue dispensing machine, Multicolor Industrial Inkjet Printing Machine,electrical automation, medium and low voltage switch cabinets, box-type substations, power distribution cabinets, and multimedia boxes.
The company provides one-stop foaming sealing equipment, colorful inkjet equipment, power distribution and electrical automation solutions . With years of industry experience, strong technical strength, sufficient production capacity, reasonable prices, and good business reputation, the products are widely used in industry, power stations, real estate, transportation, construction machinery, new energy power, photovoltaic power generation, energy storage, Communication and other fields of electricity use.
15+ years of experience
Over $50+ million in sales
14+ years of experience
Over $50+ million in sales
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