Bloomberg: Russia Can Easily Afford To Completely Stop Its Gas Supplies To The European Union

DETV: Complete gas stop in the EU for Russia no problem economically — RT DE 

According to the business publication Bloomberg, Russia can easily afford to completely stop its gas supplies to the European Union. According to analysts, the rise in global energy prices is entirely in Moscow’s favour. 

Russia could completely halt natural gas exports to the EU for more than a year without causing significant damage to its own economy, Bloomberg reported, citing analysts at Capital Economics. 

Russia’s balance of payments is in such a strong position given the current price situation that if oil prices and oil exports stay the same, Russia could cut gas exports to Europe to 20 percent of normal levels for at least three years, the company said in a report available to Bloomberg.  

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Update #1: Russia can afford complete halt in gas supplies to EU – Bloomberg (RT)  

Update #2: Russia might suspend gas shipments to Europe without damaging economy (Prensa)  

WNU Editor: It looks like the Russian economy is more resilient than many had predicted in March when sanctions were first imposed .... Russian Industry Surprises With Smaller Drop as Economy Steadies (Bloomberg).