Europe relies heavily on energy from Russia, but a handful of individual countries would be most at risk to energy shocks following Moscow’s military assault, starting with Hungary, Poland, Germany, Czechia and Italy, according to BCA Research.
Europe as a whole could feel the pinch of higher energy costs after Russia’s invasion of Ukraine briefly sent the price of crude above $100 a barrel for the first time in more than seven years.
“The danger is that either Russia halts its energy exports to Europe or EU sanctions target the Russian energy sector,” BCA Researchers wrote, in a client note. Crude prices CL00, +0.38% BRN00, +0.47% edged below $95 a barrel on Friday, as Russian troops entered Kyiv, Ukraine’s capital, but also as news reports said Russia might be willing to engage in talks with Ukraine’s leadership.
In One Chart: Epic stock-market bounce shows investors care ‘not about war but sanctions’, analyst says
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