The EU foreign policy chief Josep Borrell gave a combative speech at a security forum in Singapore on Saturday, in which he spoke out in favor of an offensive foreign policy by the EU. He quantified for the first time how much the EU has so far spent on supporting Ukraine and the consequences of the sanctions.
At the security conference in Singapore, EU foreign policy chief Josep Borrell announced how much the anti-Russian sanctions policy and support for Ukraine have cost the EU so far.
60 billion euros flowed into EU support payments for Ukraine, while cushioning the internal effects generated by the war and the sanctions policy cost the EU 700 billion.
In the official print of his speech, the “EU chief diplomat” said the following:
“For the first time ever, we have funded military assistance to a country that has been under attack. Military assistance to Ukraine amounts to approximately EUR 40 billion, funded by the [EU-]institutions, from the funds I manage in Brussels and from the Member States. … If you add up all the support – military, civilian, economic, financial and humanitarian – the volume of support for Ukraine by Europe amounts to around 60 billion euros.
But let me give you another number that’s really impressive: If you include the support that European governments have had to pay to help their families and businesses cope with high electricity and food prices, then the subsidies add up for our citizens to deal with the consequences of the war to 700 billion euros – ten times more than the support for Ukraine. This shows that the consequences of this war are not limited to what is happening in Ukraine, but also extend to the shock waves that the war has sent out around the world.”
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Despite the high cost that the Ukraine policy caused the EU and its member states, Borrell praised it and announced continued support for the Kiev regime. The military capacities of the EU members will be expanded by a further 100 billion euros “to support Ukraine”.
The mission for Ukraine was a “game changer”. The EU is still a “peace project”, but will know how to defend its interests “in a world where war lurks around every corner”, explained the “EU chief diplomat”. He offered support to “our Asian partners”. Borrell sees the Asia-Pacific region as the main theater of the “bipolar confrontation” between the US and China:
“In Europe we have a war at our borders, but the epicentre, the core of global competition, is here in the Indo-Pacific region. … The international system rests on a double dynamic that directly affects Asia and its security: this dynamic is neither bipolar nor multipolar – it is both. We have both.
We have a bipolarity that is naturally fueled by US-China competition – a competition that is deeper than the previous Soviet-US rivalry because it encompasses all areas, including technological competition, which during the Cold War was only one played a limited role. This competition is political, ideological, economic, technological and strategic. And Asia is the main territory of this competition.”
Former satirist and MEP Martin Sonneborn responded to Borrell’s speech via Twitter:
“Borrell does not mention what Waldi Dombrovski, Commissioner for Economic Affairs and Capital Services, anticipated at his last press conference in Brussels: that the simultaneous reintroduction of strict fiscal rules obliges the EU states to adopt an austerity policy, which inevitably leads to corresponding cuts in infrastructure and will lead to social spending.”
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