Actually, Europe’s own sanctions against Russia have produced and are producing skyrocketing commodities-prices that Europeans are experiencing not just in fuels but in foods, and will increasingly experience during the winter when there will be an even bigger demand for the fuels that Russia more than any other supplier and had been selling to Europeans at lower prices than any other country — but, now, because of those sanctions that are imposed by Europe’s leaders, Russia’s fuels are banned from European markets. Europe’s leaders have imposed those sanctions, and Europe’s ’news’-media praised them; and, so, European citizens approved of those sanctions; but, now, Europeans are starting to feel the inevitable consequence of that policy: soaring commodities-prices, and declining economies.
Germany will be battered with a wave of bankruptcies due to Ukraine-related sanctions against Russia, according to Commerzbank Chief Executive Officer Manfred Knof.“The energy supply in Germany is at risk, supply chains are breaking down, we have high inflation,” Knof was quoted by the Handelsblatt daily as saying.According to the executive, almost a third of Germany’s foreign trade has been impacted, forcing companies to navigate complex issues with customers, including surging commodity prices and supply-chain bottlenecks.“We shouldn’t delude ourselves: the number of insolvencies in our markets will probably increase and the risk provisions of the banks with it,” Knof said.
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