EU agency report: Russia stops natural gas supply or pays tribute to Germany’s GDP loss of 2.5% – Teller Report Teller Report

On August 22, local time, Italian media reported that, citing the assessment and analysis of the European Stability Mechanism, an EU institution, if Russia stopped natural gas supply in August, it may lead to the exhaustion of natural gas reserves in euro zone countries by the end of the year, and two risks for Italy and Germany. The largest country’s GDP could lose 2.5 percent.

According to the analysis, Russia’s cessation of natural gas supply may trigger energy rationing and economic recession in euro zone countries. If no measures are taken, the GDP of the euro area may lose 1.7%; if the EU requires countries to reduce their natural gas consumption by up to 15%, the GDP loss of euro area countries may be 1.1%. (Headquarters reporter Li Yaoyang)