Germany faces €220bn hit should Russian energy supplies be disrupted

Economic institutes said in a joint forecast that a full halt in Russian natural gas imports would result in a “sharp recession” in Germany

Finance Minister Christian Lindner highlighted the huge challenges facing Germany as it tries to wean itself off Russian energy as quickly as possible while also pursuing a goal of climate neutrality by 2045.

Germany was warned it could face a €220bn hit to output over the next two years in the event of an immediate interruption in Russian energy supplies over the war in Ukraine.

Economic institutes advising the government in Berlin said in a joint forecast that a full halt in Russian natural gas imports would result in a “sharp recession”.