USA (bbabo.net), - The US may benefit from a recession in Europe, which is fraught with a reduction in Russian gas supplies, but will suffer if the Russian Federation refuses to export oil, the Washington Post writes, citing US economists and industry officials. The publication quoted an unnamed administration official as saying the Treasury Department and a group of White House economic advisers are predicting a "moderate and manageable" impact on the US from a downturn in Europe, which accounts for less than 1% of US GDP.

“If Russia continues to sell oil to the world and only reduces gas exports to Europe, the effect on the US economy is likely to be minimal. In fact, it could even help US firms that extract natural gas. It could also weaken global demand, helping to reduce domestic price pressures,” the publication says.

“If Europe slips into recession, then obviously demand for a wide range of goods will decrease. We are now in such a perverted situation that this can be positive, ”said economist Dean Baker, referring to the attempts of the US administration to curb inflation that has been a record for 40 years.

A worse scenario for the United States is Russia's refusal to export oil, which is possible if Western countries apply the mechanism of price restrictions.

“This will push the economy into recession. Gasoline prices will skyrocket overnight, back to a record five dollars a gallon. The economy can't stomach five dollars a gallon," Moody's Analytics economist Mark Zandi was quoted as saying.

US Treasury Secretary Janet Yellen acknowledged on Sunday the risks of a surge in fuel prices in the winter, when the EU refuses to purchase most of Russian oil and ceases to provide services related to its transportation by sea. The United States and its allies want to make exceptions to sanctions for parties that fit into the price restrictions.

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