EU sees economic contraction if Russian gas supply is cut

The European Union’s economy would likely contract for the rest of this year if natural gas supplies to Russia were to be interrupted soon, with the deepest recessions felt by countries that depend on this source for a large part of their energy production, the bloc said on Monday.

European nations have been scrambling to sever their energy relationship with Russia since the start of the war in Ukraine. While some have made significant progress, Monday’s warning underscores the scale of the work that remains to be done to end the continent’s dependence on Russian supplies.


Wj

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