EU may pay big price for abandoning Russian energy

The move could cost the bloc up to 11.5% in GDP and millions of jobs, the head of Rosneft says The EU’s plan to ditch Russian energy may cost the bloc’s economy from 6.5% to 11.5% in GDP and up to 16 million people are at risk of losing their jobs, according to the head of Russian oil major Rosneft, Igor Sechin. Speaking at the Verona Eurasian Economic Forum on Thursday, he said that key areas of the EU economy, such as the metallurgy, chemical, pulp and paper industries, and agriculture are affected by the energy crisis. The potential slump in the chemical industry may reach 20-45%, while metallurgy output is fea

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