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Eurozone risks recession in case of total Russian gas cut: Lagarde

Norway earns record oil, gas revenue after Ukraine war

The eurozone could fall into recession next year in the case of a total shutdown of Russian gas supplies, European Central Bank President Christine Lagarde warned Thursday.

The “downside scenario” for 2023 foresees negative growth in the case of a “total shutdown of all Russian gas supply” and energy rationing in the eurozone, she said, after the ECB unleashed a record rate hike.

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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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