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> Economy

EU’s analysis on what will happen if Russia cuts off gas supply

Countries should work together so as to face any gas shortages problems

Newsroom October 20 12:47

European Commission published an analysis assessing how vulnerable Europe would be in the event of a six-month supply cut from Russia.

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Russia is Europe’s biggest gas supplier, meeting around a third of the region’s demand, and the EU receives about half of the Russian gas it uses via Ukraine. Therefore, it is possible to experience a gas cut-off, since Russia and Ukraine have not yet reached an agreement on gas price, which will last about six months.

According to the analysis published, in case there is a cut off for six months, Greece will be less affected compared with Bulgaria. However, “if countries work together, show solidarity and implement the recommendations of this report, no household in the EU has to be left out in the cold this winter” said Oettinger .

So, EU countries should help each other, whereas in case they don’t the gas shortages would exceed 40% at the end of the period of six months for Bulgaria, Romania, Serbia and Bosnia-Herzegovina. Also, Lithuania, Estonia and Finland would face great problems, whereas Hungary and Poland would not greatly be affected.

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