Gas boycott affects Russia much more than Germany

According to the Kiel Institute for the World Economy (IfW), the West could hit the Russian economy the hardest with a halt to gas imports. Accordingly, a trade stop of gas would result in a 2.9 percent slump in Russia’s economic output, according to the simulation calculation published Wednesday by the Kiel-based researchers. Completely abandoning oil would result in a 1.2 percent drop in economic output. “For Germany and the EU, the economic damage would be extremely small in both cases,” the trade experts summarized their study. According to the study, Germany’s economic output could even increase slightly by 0.1 percent if it were to forego Russian gas, as would that of the EU as a whole.

Continue reading now

Get 30 days of free access to the Decision Brief to read these and more quality news every day.

Are you already a guest at the Europe.Table? Log in now


    Latvia and Estonia leave 16+1 format
    ESA chief: current energy crisis small compared to climate change
    IEA and OPEC present different oil demand forecasts
    EU Commission criticizes EV passage in US climate package