Since they cannot buy cheap energy resources from Russia, European countries will have to change their business model.

Axar.az reports that French President Emmanuel Macron said this during his speech at a business conference in Versailles.

"If we compare Europe with China or the USA, then the situation is not so good. We need to change our business model. Our business model is based on cheap energy resources from Russia, an excellent export market to China, and the organization of production in Central Europe under the geopolitical umbrella of the United States. These pillars of the European model are ceasing to function," Macron said.