If Europe completely refuses to import energy resources from Russia, then the economic collapse will be even more significant.
Russia’s economy will contract 15% this year and 3% in 2023, which will cancel 15 years of economic growth. The corresponding prediction of experts is led by the agency Reuters.
It was noted that such consequences would come to Russia as a result of the impact of sanctions on the West, the departure of companies, the brain drain and the collapse of exports.
It was noted that if Europe completely refuses to import energy resources from Russia, then the economic collapse will be even more significant.
Reuters added that world economic experts are confident of extending and tightening sanctions against the Russian Federation “in the coming months.”
Earlier, the Central Bank of the Russian Federation said the full impact of the sanctions was yet to come.
Recall that by the end of the summer, the seventh EU sanctions package is expected against Russia for its invasion of Ukraine. Now Europeans are discussing the gas embargo.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.