EU Eyes Russian Oil Embargo in 'Coming Week': Gentiloni

The transcript discusses the European Union's efforts to avoid a recession through a balance of monetary and fiscal policies. It highlights the impact of the economic reopening post-COVID, the challenges posed by high energy prices due to the Russian invasion, and the need for targeted economic measures. The discussion also covers the necessity of reforming the energy market to reduce dependency on fossil fuels and the potential implications of oil and gas embargoes. The probability of a recession is considered, with emphasis on managing inflation and economic transitions.

What is the significance of transitioning away from dependency on fossil fuels in the context of the current crisis?

How does the current inflation differ from past economic crises, and what is its expected impact?

What role does a windfall tax on energy companies play in addressing economic challenges?