“News from Western Europe is reminiscent of what once came from countries like Bolivia.
High inflation and rationing of resource consumption,” said the author of the article.
In particular, Rapoza noted, Germany "will be in a worse position" because of its high dependence on Russian gas.
With such energy prices, "Western European economies are moving towards the Middle Ages," the journalist believes.
The observer cites forecasts by Barclays Capital, according to which the EU will soon face a deep and prolonged recession amid rising energy prices, tough ECB measures and falling demand.
Earlier, State Duma Speaker Vyacheslav Volodin said that Europe's energy security is impossible without Russia.
Alexander Frolov, Deputy General Director of the National Energy Institute, commented on the situation with gas in Europe in an interview with the Economics Today FBA.