Suspension Of Russian Oil, Gas Threatens Germany With Recession

Halting Russian oil and gas supplies to Germany would plunge Europe's largest economy into recession, German banks have warned. According to a Reuters report, the BDB industry body expects a sharp decline in economic growth this year, to some 2 percent, because of the war in Ukraine—and that's if supplies continue. "The situation would be even worse if imports or supplies of Russian oil and natural gas were to be halted. A significant recession in Germany would then be virtually unavoidable," the chief executive of Deutsche Bank, Christian…