Introduction

In a prior episode, we examined the broad economic implications of the European energy crisis as a result of Russia’s invasion of Ukraine and the related effects of the conflict. And with the winter season fast approaching, we wanted to provide an update on the region’s energy situation. We’ve called on Katharine Neiss, PhD, Chief European Economist, and Magdalena Polan, Lead Economist for major EM economies in Central EU and the Middle East, to summarize the current state of affairs in Europe, detail the current and possible alternative sources of energy for the region, and highlight the areas in which access or reliance on Russian oil and gas has ceased. The duo also hones in on key distinctions in the energy situation across Europe, provides their assessment of the region’s outlook for this winter and the next, and hypothesizes how the ongoing energy transformation might ultimately shape Europe.

Recorded on August 23, 2022.