Hypothetical Russian Gas Cutoff Would Double Prices in Estonia, Says German Institute (1)
The German Institute for Economic Research has calculated that if Russia turns off all gas pipelines to the west, gas prices in the Baltics would surge by 100 percent.
Ukraine would be the worst hit, with prices increasing over 200 percent, while Finland would see an increase of more than 100 percent, Postimees reported today.
If Russia stops gas exports through Ukraine, Hungary, Croatia and Romania would see huge increases of up to 70 percent in gas prices, while other nations would only experience mild increases.
The full report (in German) can be read here.