This page has been archived and commenting is disabled.  Nordea
Warns Of EU Recession And $150 Oil If Russia Retaliates  Tyler
Durden's picture   Authored by Thina Margrethe Saltvedt and
Aurelija Augulyte of Nordea Bank,    • Russia as important oil
as gas supplier to Europe  Oil prices have increased by more
than USD 2/barrel today as tension in Ukraine has escalated and
raise concerns about the risks of disruption in Russian energy
exports. There is a risk that the security situation in the east
Ukraine will worsen even further ahead of the 25 May elections.
Memories have been awakened of episodes in 2006 and 2009 when
Gazprom halted all Russian gas flows through Ukraine, amid
pricing disputes, completely cutting off supplies to Southern
Europe and partially other European countries. Not nearly as
much attention has been paid to the risk of a disruption to the
oil flows.  Russia is as important an oil exporter to Europe (of
both crude and refined products) as it is a gas exporter, but
unlike for gas, only