Germany: Ban on Russian gas would plunge Berlin into recession

(Photo: Jordan News)
AMMAN-- An embargo on Russian gas imports triggered by a further escalation of the crisis in Ukraine could plunge Germany into a recession, the Bundesbank warned on Friday, the Guardian reported, according to the Jordan News Agency, Petra.اضافة اعلان

An immediate EU ban on Russian gas would cost Germany the equivalent of €165bn in lost output this year, according to the country’s central bank.

"In the severe crisis scenario, real GDP in the current year would fall by almost 2 percent compared to 2021," the Bundesbank said in its latest monthly report.

Read more Region and World news.