News / Spotlight

Russia-Ukraine war fallout

Tuesday, 05 July 2022 8:37 PM [ Last Update: Tuesday, 05 July 2022 10:09 PM ]

Germany has posted monthly trade deficit for first time in three decades, as war in Ukraine continues to take its toll on European economies, causing record inflation and an energy crisis. Russia has cut back on natural gas supply to Europe after being sanctioned by the West.

Germany relies on Russia for 35 percent of its natural gas needs, while Germanys Federation of Trade Unions has warned short supply could lead to collapse of entire industries.

Also, Bank of England tells lenders to brace for economic storm, claiming that economic outlook for UK and the rest of the world has deteriorated. Economists say the risks of Europe backsliding into recession are growing after big jump in gas prices.

Press TV discusses Russia-Ukraine war fallout with Tony Gosling, historian and investigative journalist from Bristol and John Bosnitch, journalist, activist and political analyst from Belgrade.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk