The IMF has predicted that if individual countries do not share liquefied natural gas (LNG) and prices are not artificially kept low, then any effort by Moscow to stop gas supplies to Europe will trigger an economic decline in the Czech Republic, Hungary, Slovakia and Italy next year by more than five percent.
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At the same time, the Russian gas company Gazprom has already informed the German companies Uniper and RWE that it will not be able to fulfill its obligations due to force majeure. Part of Russian gas also flows through Germany to the Czech Republic.
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The IMF pointed out that 42 percent of the gas imported into Europe comes from Russia. Eight EU countries, including the Czech Republic, Slovakia and Hungary, are more than 50 percent dependent on Russian gas. Italy is sensitive to Russian gas supplies because it uses it heavily in electricity production.
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