Late To The Party? IMF Warns That Russian Gas Shutoff Would Cause EU Recession

While the recent scare over the Russian maintenance shutdown of Nord Stream 1 appears to be ended with natural gas supplies now flowing once again, the overall threat still remains and winter is coming faster than many Europeans like to think about.  The danger of Russian retaliation against EU sanctions is ever present and the only thing that seems to be preventing them from cutting off 40% of Europe’s energy supply is geopolitical optics.  

The concern over winning hearts and minds may be fleeting for the Kremlin, as sanctions continue to pile up over the war in Ukraine.  There is also another factor to consider – The “Great Reset” and the “Shared Economy” promoted by globalist institutions like the World Economic Forum and the International Monetary Fund.  A large scale economic crisis within the EU and the US could very well be exploited by these institutions to expedite their agenda to rewrite the very foundations of our economic framework and erase the last vestiges of free markets forever.  

In other words, a shut down of natural gas supplies by Russia and an economic plunge in Europe may very well serve their interests in the long term.  Not to mention, Russia will get all the blame for an economic crisis that was already going to happen anyway due to years of central bank fueled inflation.  

This may be why the IMF has been seemingly behind the curve in their analysis of the current situation.  It’s possible they are waiting to inform the public about the true nature of the economic threat until it is too late to do anything about it.     

The global banking establishment warned this week that a total shutdown of gas supplies to the EU would send many countries into a recessionary tailspin.  They specifically named Hungary, Slovakia, Czech Republic, Italy, Germany and Austria as particularly vulnerable, and warned these nations could see GDP losses of at least 6% (likely much greater).  

This in itself is not news to most people, as these countries are already facing stagflation pressures and have been for the past couple of years.  There has also already been a 60% drop in gas exports from Russia to Europe in the last several months.  However, what is news is the fact that the IMF has finally admitted to the greater problem of a full Russian shutdown.  

Initially, the establishment media and NATO suggested that Europe could easily cope with supply losses from Russia by seeking out alternative energy sources.  They also argued that Russia was incapable of ending gas exports to the EU because they need the European markets to survive.  But, the IMF now says that a total shutdown is entirely possible and would result in bottleneck dangers that would disrupt the EU’s ability to reroute gas and other supplies.  Meaning, they can handle a short term loss of a percentage of Russian gas imports (up to 70% according to the IMF), but not all Russian gas, and not for very long.

This is an abrupt shift from the mainstream narrative on sanctions by the western media and governments.  If anything, it highlights the reality that many in the public have been kept in the dark and misinformed about the true gravity of the situation.  With colder weather only a couple of months away, the question is not IF gas supplies will be cut, but how soon.  

In the meantime, the IMF circles the crisis like a shark waiting for an easy meal.  With multiple countries on the verge of severe recession and already dealing with profound stagflation, the IMF has set itself up as the lender of last resort as well as the “savior” of struggling nations in need of financial aid.  And, as always, whenever the IMF gets involved in a country’s economic problems, there will be strings attached.  

If there is a loss of Russian energy this year then it’s possible that EU members will be the first on the IMF’s hit list, and possibly the first western societies to see what the Great Reset agenda really entails.

Read further at ZeroHedge

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