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Disruptions to Russian Energy Supply Likely to Weigh on European Output

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Abstract

The Russia-Ukraine war and subsequent oil sanctions from European countries have substantially disrupted the supply of Russian oil and gas. We estimate the effects of these disruptions on European output and find that a decline in the Russian oil and gas supply in 2022 could lead to a sizable drop in European output over 2023–24, though the effect differs across countries and sectors .

Suggested Citation

  • Thomas R. Cook & Amaze Lusompa & Jun Nie, 2022. "Disruptions to Russian Energy Supply Likely to Weigh on European Output," Economic Bulletin, Federal Reserve Bank of Kansas City, issue November , pages 1-4, November.
    • Handle: RePEc:fip:fedkeb:94986
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    File URL: https://www.kansascityfed.org/Economic%20Bulletin/documents/9218/EconomicBulletin22CookLusompaNie1104.pdf
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    1. Rüdiger Bachmann & David Baqaee & Christian Bayer & Moritz Kuhn & Andreas Löschel & Benjamin Moll & Andreas Peichl & Karen Pittel & Moritz Schularick, 2022. "What if? The economic effects for Germany of a stop of energy imports from Russia," SciencePo Working papers Main hal-03881469, HAL.
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    1. Murè, Pina & Paccione, Cosimo & Marzioni, Stefano & Giorgio, Saverio, 2024. "How electricity and natural gas prices affect banking systemic risk," Research in International Business and Finance, Elsevier, vol. 72(PA).

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    More about this item

    Keywords

    Oil; Russia; Ukraine;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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