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EU energy crisis set to intensify during 2023

Jerome Hughes
Press TV, Brussels

On Monday, eurozone finance ministers marked the occasion of Croatia becoming the 20th member of the Eurogroup. However, Zagreb joins the euro at a very precarious time for the currency. The big question is where will the EU get its gas in 2023 and at what price?

The EU insists its move to cut out Russian energy over the war in Ukraine has damaged Moscow, but for the first time, there's an acknowledgement of collateral damage.

Experts say the EU has always been overly dependent on imports of gas, oil and raw materials. It's a reality that won't change.

To obtain essential supplies, the EU will turn a blind eye to crimes committed by the likes of Saudi Arabia and Qatar, according to analysts.

On the other hand, despite enormous economic uncertainty at home, the EU is promising more financial aid for Ukraine.

The European Commission has already organized €18bn for Ukraine in 2023. The first tranche is currently being released.

The EU will send a further €3bn to Ukraine on Tuesday.

As social inequality grows across the bloc, more and more people are asking, "Can we really afford to keep doing this?"

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