Putin’s plot to choke Europe backfires as German gas storage 80% full | World | News


A recent IMF report warned that a full shutdown of Russian gas supplies could be “substantially more severe” for the continent than the economic woes it is already facing from a reduced supply.

It found that European infrastructure had so far been able to cope with a 60 percent drop in Russian gas supplies from June last year, and the IMF believes it could see a 70 percent reduction in the short term.

However, it stated that finding adequate supply would be made much more difficult in the event of a complete shut-off of Russian gas, owing to bottlenecks in supply. These potential shortages could instigate anywhere between a 15 and 40 percent drop in consumption.

Those most affected are central European nations such as the Czech Republic, Slovakia and Hungary, which have long relied on Russian fuel imports. The three nations are likely to take the hardest hit to their economies were pipelines shut off fully.





Source link

Leave a Reply

Your email address will not be published.