- George Soros said Europe may have more bargaining power than he thinks it has to deal with Russia.
- The billionaire called on Europe to impose a “high tax on gas imports”.
- Soros also the Russian invasion of Ukraine could trigger World War III and lead to the end of civilization.
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Europe may have more bargaining power than it thinks when it comes to dealing with Russia.
This is according to billionaire George Soros, who has urged Europe to use its position as a major consumer of Russian natural gas to take a tougher stance against Russia, Bloomberg reported.
The hedge fund mogul, speaking on the sidelines of the World Economic Forum (WEF) in Davos on Tuesday, said he had sent his views to Italian Prime Minister Mario Draghi, according to the media.
“Europe is its only market,” Soros wrote to Draghi on May 23, Bloomberg reported, citing a copy of the text.
In 2021, Europe’s developed economies were by far the largest importers of Russian natural gas, accounting for almost three-quarters of the country’s total exports, according to the Energy Information Administration. of the USA.
“If it does not supply Europe, it will have to close the wells in Siberia where the gas comes from,” Soros continued, according to the press. “It takes time to close them and once closed, it’s hard to reopen them because of the age of the equipment.”
Soros also called on Europe to impose heavy taxes on gas imports. “Russia will never regain lost sales,” Bloomberg wrote.
The philanthropist and donor of liberal political causes said on Tuesday at a dinner at the WEF that the Russian invasion of Ukraine could trigger World War III, a civilization that may not survive.
“We must mobilize all our resources to end the war soon. The best and perhaps the only way to preserve our civilization is to defeat Putin as soon as possible,” he told AFP.
Soros said he wrote to Draghi because the Italian leader is one with “initiative” and “imagination,” Bloomberg reported.
Prior to taking office as Prime Minister of Italy in February 2021, Draghi was President of the European Central Bank for eight years. In his tenure as Europe’s leading central banker, he is credited with saving the euro from collapse during the eurozone debt crisis, which peaked between 2010 and 2012.