Germany will suffer without Russian energy, Deutsche Bank warns Germany will plunge into recession if Russian gas and oil are cut off, the country’s top bank warned on Monday. Economic growth in Europe’s biggest economy was already expected to be much slower than previously anticipated due to the conflict in Ukraine, said Christian Sewing, the chief executive of Deutsche Bank and president of the Association of German Banks (BDB). “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,” he to
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