Russian gas shutdown would send some EU countries into recession: IMF

July 2022 \ Cover Story \ COVER STORY—WORLD ENERGY GEO-POLITICS

Russian gas shutdown would send some EU countries into recession: IMF

The IMF said Europe’s energy infrastructure and global supply had coped so far with a 60 per cent drop in Russian gas deliveries since June last year, but underlined the potential costs should the Kremlin respond to Western sanctions by “weaponizing” energy supplies, The Guardian reported. Russia’s invasion of Ukraine has already led the fund to cut its growth forecast for the global economy to 3.6 per cent this year, and it will announce a further downgrade later this month.

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Tags: Russia, Crude Oil