Europe at risk of recession amid concerns Russia could cut gas supplies
by Jasper Jolly from on (#611PC)
Energy prices had already surged in second half of 2021 but Russia's invasion of Ukraine has exacerbated this
Europe faces a rising risk of recession because of rising oil and gas prices amid concerns that Russia could turn off supplies completely, economists have said.
Europe's economy will be hit by a variety of factors including falling demand in the US - its biggest export market - the continued fallout from Russia's invasion of Ukraine and related increases in food and energy prices, according to Nomura, a Japanese investment bank with significant operations in London.
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