A total shutdown of Russian gas supply would reduce GDP in the most vulnerable EU countries by as much as 6% and send them plunging into recession, the International Monetary Fund has warned.
Amid speculation that the Russian president, Vladimir Putin, will keep the Nord Stream 1 pipeline closed when routine annual maintenance ends later this week, the IMF said Europe lacked a comprehensive plan to cope with shortages, further increases in energy prices and the impact on growth.
