AMMAN: A total shutdown of Russian gas supply would reduce GDP in the most vulnerable EU countries 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 Tuesday Europe lacked a comprehensive plan to cope with shortages, further increases in energy prices and the impact on growth, Jordan news agency (Petra) reported.
The IMF identified Hungary, Slovakia and the Czech Republic as the three EU countries likely to suffer most, but said Italy, Germany and Austria would also suffer significant effects, it reported.
The EU imports up to 40 per cent of its gas needs from Russia before the war.
