Officials are unhappy with the Inflation Reduction Act and its subsidies that could drive investment out of Europe
By Dave DeCamp, Antiwar.com
High-level European officials are furious with the Biden administration and are now accusing the US of profiting from the war in Ukraine while Europe is facing a potential energy crisis.
In comments to POLITICO, a senior EU official said, “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.”
The US-led sanctions campaign on Russia has backfired on Europe as it has ratcheted up energy prices to the point where Europeans may face blackouts this winter. On top of the energy situation, European leaders also fear they will lose out on investments due to unprecedented subsidies included in the US’s Inflation Reduction Act, which President Biden signed into law in August.
The Inflation Reduction Act includes $369 billion in subsidies and tax breaks for green businesses, incentivizing companies to invest in the US instead of Europe. European leaders have publicly criticized the US for the legislation and are considering subsidies of their own, signaling the beginning of a new trade war.
Recent Posts
Top Pentagon Official Admits Boat Strike May Have Killed Victims of Human Trafficking
Take Action Now If this boat was running drugs, why was it loaded with so many people?By Nick Turse, The Intercept Nine months into the Trump…
The New Documentary “An Ordinary Insanity”
Take Action Now Only when such sanity becomes ordinary will we have a chance of surviving the nuclear era.By Robert Ellsberg This film presents a…
Nuclear Powers Spend Record Billions on Weapons While Hunger and Climate Needs Go Unmet
Take Action Now The United States accounted for more than half of global nuclear weapons spending in 2025 as watchdogs warn of a growing arms race,…
Daniel Ellsberg vs. “Ordinary Insanity”
Take Action Now A new documentary issues an urgent warning about our dangerous nuclear delusions.By Norman Solomon, The Nation A few days before…