Germany’s industry leaders warn of the negative consequences of a gas import ban. The EU’s refusal to pay directly in rubles tests Putin’s threat to cut off the gas supply, and buyers in Europe “would be running a very real risk of their supplies being cut. If Russian gas supplies are immediately interrupted, Germany will lose as much as $237 billion in economic output both this year and next. Vladimir Putin has threatened to cut off the gas supply to Europe if the “hostile” nations—including all of the EU—do not start paying in rubles for gas. Flows from Russia continue, but the EU and its biggest economy, Germany, are bracing for a potential disruption to gas supply either because of an energy embargo on Russia or Russia halting supplies. Without Russian gas, Europe faces gas rationing, recession, and sky-high energy prices—higher than recent record-highs, economists and analysts say. The […]