The EU’s energy plan that cuts reliance on Russian gas will cost it an extra $200 billion by 2030 unless it shifts to cleaner sources of power, a think tank says
Germany could lose $240 billion of its annual economic output, over two years if Russian gas were halted.
Germany is under increasing pressure to ban Russian energy imports over the Ukraine war.
The Russian energy industry is facing challenges due to boycotts and sanctions over the Ukraine war.
Biden’s comments pointed to the economic interdependence of China and the United States, its largest trading partner.