Wang Ye said financial news: If Russia cuts off oil and gas supply, what will happen to the European economy?
In this regard, Germany was the first to say: then our economy may decline!
Just on Monday (4th), German Finance Minister Lindner told reporters before the start of the Eurogroup meeting in Luxembourg that EU countries cannot refuse to import Russian gas at this time.
Coincidentally, on Monday, Deutsche Bank President Christian Zewin said that in the case of a complete refusal to import Russian oil and gas,
Germany's economy risks a reversal.
According to the governor's forecast, if Russia cuts off oil and gas supply, German GDP is expected to slow by 2% in 2022.
"It would be worse if we stopped importing or supplying Russian oil and gas," Zevin said. In this case, the German economy will inevitably go backwards. ”
In addition, just last week, Germany's minister of economy and climate protection, Robert Hubbeck, also said that the embargo on Russia's energy supply could end Germany's prosperity.
Habeck believes that for now, Germany does not have the infrastructure to import gas and oil in other ways, and Germany's dependence on Russian gas is as high as nearly 62%.
Finally, Hubbeck warned: "I have vowed not to risk my own country's prosperity." ”
Martin Brudmüller, CEO of BASF, said that in the case of complete or long-term cessation of gas and oil imports from Russia, Germany will face unprecedented economic losses, and may even lead to Germany facing the worst economic crisis since the end of World War II.
What do you think about that? What do you think will happen to the German economy once Russia cuts off oil and gas supplies?
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