Germany calculates costs of Russian gas supply cut ...News

The losses could amount to almost €200 billion this year, Bild reports The German economy could lose 12.5% of its annual output if Russian natural gas supplies are abruptly stopped, Bild tabloid reported on Tuesday, citing a study by the Bavarian Industry Association. The analysis was reportedly carried out by Prognos AG, based on a scenario in which Russian gas supplies are cut off on July 1. If this were to occur, Germany’s glass, steel, and food industries would suffer losses of €49 billion this year, which would affect production and supply chains in other industries. The costs were estimated to reach €144 bi

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