Ukraine War Is Putin Our Economy At Severe Risk

Donohoe warns more misery on way if Russia cuts off gas

- Luke O'reilly

RUSSIA switching off the supply of natural gas to Europe presents a "severe" risk to Ireland, the Finance Minister has warned.

Speaking to the budgetary oversight committee, Paschal Donohoe claimed the "global economic shock" caused by Russia's invasion of Ukraine has "rapidly" changed Ireland's economic context.

He said the "era of low-cost borrowing" is "clearly coming to an end". Discussing the summer economic statement, Mr Donohoe said the war could cause further economic woes for Ireland.