"Political sovereignty plays a key role, including in economic development. It’s clear the EU doesn't have much sovereignty anymore," Russian President Vladimir Putin said on 1/8 after meeting with Belarusian President Alexander Lukashenko on Valaam Island in the Republic of Karelia, Russia.

According to Putin, the European Union (EU) no longer has political autonomy and will also lose its economic sovereignty. "The EU's sovereignty is completely gone. With the current crisis, economic losses will continue," he said.

He noted that many political analysts have pointed out in Western media that the EU is no longer an "economic giant, but a political dwarf." The Russian president did not specify these articles.

Putin's statement came after the EU and the US announced a trade framework agreement on 27/7, in which the US agreed to reduce import taxes on most European goods to 15%. This is a 5% increase compared to the currently applied rate (10%) and significantly higher than the average of 1.2% before Trump took office.

In return, the EU canceled its retaliation plan and opened its market to US goods, agreeing to purchase 750 billion USD worth of energy products, invest 600 billion USD in the US, and purchase more US military equipment.

Analysts assess that Europe had to accept an agreement that favored Washington due to having fewer advantages over the US than they thought, according to Reuters.

Russian President Vladimir Putin on Valaam Island in the Republic of Karelia, Russia, on 1/8. Photo: AFP

Russian President Vladimir Putin on Valaam Island in the Republic of Karelia, Russia, on 1/8. Photo: AFP

When asked about the US-EU trade agreement, which is considered one-sided and disadvantageous to Brussels, President Putin said this outcome was predictable.

The EU has not yet commented on the Russian president's statement.

"The loss of political sovereignty will lead to the loss of economic sovereignty and financial damage will be extremely severe. Therefore, our main goal in the campaign in Ukraine is to strengthen Russia's sovereignty," the Kremlin leader emphasized.

Regarding the ongoing war in Ukraine, the Russian leader reiterated Moscow's stance that resolving the conflict should aim for "long-term, sustainable peace" rather than a temporary ceasefire.

On 18/7, the EU adopted its 18th sanctions package against Russia related to the war in Ukraine, with measures targeting Moscow's oil and energy sectors. The Kremlin said these sanctions are biased, illegal, only serve Europe's "anti-Russia stance," and are essentially a "double-edged sword."

Huyen Le (TASS, RT, BelTA, AFP)