A halt of Russian gas supplies to the European Union could potentially reduce its gross domestic product by as much as 1.5% if the next winter is cold and the region fails to take preventive measures to save energy, according to new estimates from the bloc.
The European Commission is set to warn that, in the event of an average winter, a cut-off of gas shipments from Moscow would reduce the GDP by between 0.6% and 1%, says a draft EU document seen by Bloomberg News.
