Economist calculates how long Russia can shut off gas to Europe

2022-08-28T01:45:00+03:00

2022-08-28T01:48:50+03:00

2022-08-28T01:45:00+03:00

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Economist calculates how long Russia can shut off gas to Europe

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Russia has the opportunity, without negative consequences for its own economy, to stop gas exports to the EU states for at least a year, said in an interview with the agency… PRIME, 08/28/2022

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Economist calculates how long Russia can shut off gas to Europe

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MOSCOW, August 28 – PRIME. Russia has the opportunity, without negative consequences for its own economy, to stop gas exports to the EU states for at least a year, Liam Peach, an economist at a consulting company, said in an interview with Bloomberg.

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In Europe, they figured out how to warm up in winter without Russian gas

In his opinion, “as long as oil prices and export levels remain at current high levels, Russia’s current account surplus will be enough to support it even when disconnected from the main gas market.”

At the same time, the economist noted that if supplies to European countries were stopped, Russia’s current energy export revenues would be enough for “a little more than a year,” and added that Moscow could earn up to $20 billion per quarter from gas exports.

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