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A sudden stop in Russian gas supplies to Europe would likely push the eurozone into a recession, Fitch Ratings says. “Exposures are so large that an immediate and total cessation of Russian natural gas supplies would result in gas shortages and rationing, causing a major macroeconomic shock,” the rating agency says in a note seen by Kallanish. With 38% of EU gas imports sourced from Russia, Fitch estimates that about 30% of domestic gas consumption in…
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