iI would plunge the country’s economy into one of its worst post-financial crisis recessions.
By Neal Freyman Morning Brew
Since the beginning of the war in Ukraine, the EU has paid more than $37 billion for Russian energy supplies—a big chunk of that by the bloc’s No. 1 economy, Germany. While pressure is mounting on the country to stop financing Putin’s war efforts with energy purchases, politicians there say the economic toll is just too large to do so immediately.
That toll: The country’s central bank reported yesterday that an embargo on Russian gas would plunge it into a recession. Instead of Germany’s economy growing by 3% this year, it would shrink by 2%, amounting to one of the worst recessions in the country since the financial crisis.
