EU officials say US is profiting from Ukraine war, say Inflation Reduction Act ‘very worrying’

Senior European officials have attacked President Biden’s actions amid the ongoing war in Ukraine and even questioned whether the United States remains an ally as gas prices rise and US green energy policies have put Europeans in “full panic mode”, according to one report. .

European officials, speaking anonymously to Politico, accused the United States of “profiteering” from Russian President Vladimir Putin’s invasion of Ukraine and complained that green subsidies and taxes included in the Emissions Reduction Act inflation have deteriorated relations between the US and European allies and partners.

“The fact is, if you look at it soberly, the country that is benefiting the most from this war is the US because they sell more gas and at higher prices, and because they sell more weapons,” a senior official told Politico .

“We are really at a historic juncture,” the official added, arguing that US policies have disrupted trade and that high gas prices are turning public opinion against aid to Ukraine. “America needs to realize that public opinion is changing in many EU countries.”

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President Biden speaks about the situation in Poland after a meeting with G7 and European leaders on the sidelines of the G20 summit in Nusa Dua, on the Indonesian resort island of Bali, on November 16, 2022.
(SAUL LOEB/AFP via Getty Images)

Among Europe’s complaints are that the electric vehicle tax credit included in the Inflation Reduction Act, a $369 billion tax and spending bill signed by Biden, is “protectionist” and “discriminatory” because it imposes unfair competition to foreign manufacturers.

“The Inflation Reduction Act is very worrying,” said Dutch Trade Minister Liesje Schreinemacher. “The potential impact on the European economy is very large.”

At the same time, Putin has cut energy exports to the rest of Europe, prompting EU countries to buy fuel from the US at nearly four times the cost. These factors, combined with record inflation, the threat of recession and rising energy demand as winter approaches, have European leaders questioning whether the Biden administration is aware of the damage inflicted by the president’s policies.

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Flags of the European Union.
(Nicolas Economou/NurPhoto via Getty Images)

“The Americans, our friends, make decisions that have an economic impact on us,” the EU’s chief diplomat, Josep Borrell, stressed to Politico.

US officials have shifted the blame to Russia. “The rise in gas prices in Europe is caused by Putin’s invasion of Ukraine and Putin’s energy war against Europe,” a spokesman for the White House National Security Council told Politico.

The White House has also said that US energy exports are helping Europe, taking credit for shoring up energy supplies ahead of winter.

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People collect their belongings from a damaged house after a Russian bombing in the city of Vyshgorod, outside the capital Kyiv, Ukraine, Thursday, Nov. 24, 2022.
(AP Photo/Efrem Lukatsky)

“The increase in global LNG supplies, led by the United States, helped European allies and partners achieve encouraging storage levels ahead of this winter, and we will continue to work with the EU, its members and others European countries to ensure enough supplies will be available for the winter and beyond,” an NSC official told Fox News.

The White House insisted to Fox News that US policies have not undermined or contradicted President Biden’s promise to Europe that “America is back” as a reliable ally.

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But European officials aren’t so sure.

“The Inflation Reduction Act has changed everything,” an EU diplomat told Politico. “Is Washington still our ally or not?”