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UK PM Boris Johnson Warns Of Economic Damage From Ukraine War

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U.K. Prime Minister Boris Johnson accused Russia of attacking Ukraine to cause economic damage to western nations and to benefit Putin by pushing its hydrocarbons at inflated prices. The Conservative Party leader said, “Putin knows that with every dollar increase in crude oil, he gets billions more in return. He has been preparing to push hydrocarbons in the west like a backstreet pusher feeding our addiction and creating dependency and now he wants to increase our living costs.”

According to Boris Johnson, the unfolding situation following the war in Ukraine requires countries to help reduce energy spending to lessen people’s burdens. “The UK is lifting the living wage, cutting taxes, helping with fuel costs, giving billions to counsels who are facing hardship.” The best strategy, Boris Johnson said, is to “have a strong economy, with well-paid jobs.” He further noted that unemployment in the UK is at a record low, 3.9%.

Boris Johnson calls to end energy dependence on the Kremlin.

Moreover, when the UK Prime Minister stated that the single biggest cost item for families is the rising energy bills, adding “bold steps are needed to bring them down to tolerable levels to end our dependence on Putin’s oil and gas,” his remarks found resonance with the audience and gained acclaim.

After years of short-termism and hand-to-mouth solutions, the UK PM said, “it’s time to take back control of our energy.” The country following the policy will make efficient use of hydrocarbons rather than importing them at exorbitant prices from abroad. Boris Johnson further stated that the UK would continue to invest in carbon-neutral, green, and clean energy measures, nuclear power reactors, and much more. Across the world, companies are looking to invest in the UK’s green and clean energy sector.

The UK imposes heavy sanctions upon Russia amid the Ukraine war

Interestingly, the UK has slapped the most sanctions on Russia than any other European country, freezing assets, and yachts of Russian oligarchs with close ties to Putin. The cost of doing nothing is far higher, Boris Johnson asserted, and his statement was met with applause from the audience.

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