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…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.