Russian Gas Supply Halt Would Deal EU Economic Hit – Bruegel Report
The European Union could cope with a short-term halt to all Russian gas imports but doing so would have “profound economic consequences” and require emergency measures to curb demand, according to analysis by the think tank Bruegel. Escalating tensions between the West and Russia over Ukraine have raised concerns about Russian gas flows to Europe, prompting the European Commission and the United States to investigate alternative supplies. Bruegel said that if Russia cut off all gas, the EU would need to both hike imports of liquefied natural gas (LNG) and impose emergency measures to cut demand — such as factory closures — to avoid severe shortages.
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