Ammon News - An embargo on Russian gas imports triggered by a further escalation of the crisis in Ukraine could plunge Germany into a recession, the Bundesbank warned on Friday, the Guardian reported.
An immediate EU ban on Russian gas would cost Germany the equivalent of €165bn in lost output this year, according to the country’s central bank.
"In the severe crisis scenario, real GDP in the current year would fall by almost 2 percent compared to 2021," the Bundesbank said in its latest monthly report.
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