Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » IMF warns of severe recession across Europe in the event of a Russian gas embargo – FT

    IMF warns of severe recession across Europe in the event of a Russian gas embargo – FT

    July 19, 2022
    Share
    Facebook Twitter LinkedIn WhatsApp

    News wire — International Monetary Fund, on Tuesday warned that a Russian gas embargo would lead to severe recessions in eastern Europe and Italy if countries around the world hoarded their own scarce supplies, the Financial Times reported.

    The IMF predicted that unless liquid natural gas was shared and prices were artificially held down, any Russian action to stop supplying Europe would trigger economic contractions of more than 5% over the next year in the Czech Republic, Hungary, Slovakia and Italy, the newspaper added.

    Reuters reported on Monday that Russia’s Gazprom had told customers in Europe it could not guarantee gas supplies because of “extraordinary” circumstances, adding to fears that Moscow may not restart the Nord Stream 1 pipeline on Thursday.

     

    (Reporting by Rachna Dhanrajani and Shubham Kalia in Bengaluru; Editing by Jon Boyle)  – Reuters

    Follow us on twitter

    Related News

    Tariff crisis stalls Nigeria’s gas-to-power expansion

    Edun meets downstream leaders to deepen energy reforms & drive investment in CNG

    LNG freight rates hit 8-mth top on tight tanker availability, Mideast conflict

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Stakeholders raise alarm over dangers of marine debris

    June 29, 2025

    Customs seizes N3.6bn illegal export in Owerri 

    June 29, 2025

    WTO hails Nigeria Customs as continental model for trade facilitation

    June 29, 2025

    NNPC raises alarm over sabotage campaign targeting leadership, reforms

    June 29, 2025

    Heirs Energies, Renaissance Africa Energy collaborate to drive Nigeria’s oil & gas development

    June 29, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.