by Jacob Geanous at nypost.com
A collection of high-ranking European officials are fed up with the Biden administration for what they view as war profiteering during the conflict in Ukraine.
The comments come amid rising gas prices and mounting tension toward US legislation that offers tax credits to those who “Buy American.”
Meanwhile, Putin’s invasion of Ukraine is pushing European economies toward recession while the US is benefitting, some officials claim.
“The fact is, if you look at it soberly, the country that is most profiting from this war is the US because they are selling more gas and at higher prices, and because they are selling more weapons,” one senior EU official told POLITICO.
The European Union has turned to the US for gas to reduce reliance on Russian fuel — but the price the EU is paying is reportedly four times higher than what Americans are shelling out for the same product.
“The United States sells us its gas with a multiplier effect of four when it crosses the Atlantic,” Thierry Breton, European Commissioner for the Internal Market, said on French TV on Wednesday. “Of course the Americans are our allies … but when something goes wrong it is necessary also between allies to say it.”
The Biden administration has adamantly denied price-hiking accusations and instead blamed the high costs on the Ukrainian conflict.
“The rise in gas prices in Europe is caused by Putin’s invasion of Ukraine and Putin’s energy war against Europe, period,” a spokesperson for Biden’s National Security Council told Politico.
The dispute is compounded by Biden’s Inflation Reduction Act, a massive tax, health care and climate package that offers tax credits to those who buy American-made electric vehicles, sparking concern among European car manufacturers.“
Nobody wants to get into a tit-for-tat or subsidy race. But what the US has done really isn’t consistent with the principles of free trade and fair competition,” Irish Trade Minister Leo Varadkar said during an emergency EU Commission meeting on Friday, according to Fortune.read more