The World Bank warns of a contraction in the European economy with the suspension of “Nord Stream” ..

5 October, 2022
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The World Bank warns of a contraction in the European economy with the suspension of “Nord Stream” ..

A World Bank report revealed that European Union countries may face a recession this winter due to energy shortages due to sanctions against Russia, as the situation is under pressure, including the suspension of fuel supplies through the "Nord Stream-1" pipeline.


Energy shortages are likely this winter in Europe, as the cost of natural gas in Europe has continued to rise, reflecting a significant reduction in supplies from Russia despite a significant increase in imports from the United States, the report stated.


Stocks of raw materials in underground gas storages in European countries will not be able to compensate for the sharp decline in fuel supplies from Russia in the long term.


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