A sudden stop in Russian gas supplies to Europe would likely push the eurozone into a recession, Fitch Ratings says in its latest economics dashboard. 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 EU relies on net imports to supply 84% of its domestic gas consumption. With 38% of EU gas imports sourced from Russia, we estimate that about 30% of domestic gas consumption in the EU and the eurozone was supplied by Russia. For Germany, the figure is double at 60%. The potential impact of a ... (full story)