GDP impact of European embargo on Russian gas 2023-2024, by region
In case European countries fully ban Russian gas imports, the global gross domestic product (GDP) growth in 2023 was expected to be 0.45 percent lower compared to the baseline forecast. The ban could cost European countries that were members of the Organization for Economic Co-operation and Development (OECD) 1.3 percent of GDP in the same year and 0.67 percent in 2024.
