Title: Ukraine crisis: What would a new Cold War mean for the economy? | The Independent | The Independent
Headings: Ukraine crisis: What would a new Cold War mean for the economy?
Ukraine crisis: What would a new Cold War mean for the economy?
Investors are rightly worried about the global impact of the Ukraine crisis
Recommended

Content: Shares in BP, which saw the value of its investment in the giant Russian oil producer Rosneft drop by $1bn yesterday, were also penalised. Recommended
A chilling ultimatum - surrender by four, or else...
This is Europe’s biggest crisis in the 21st century, warns Hague
Ukraine appeals to Moscow: ‘ This is a crime and you will answer for it’
Russia dismisses '3am ultimatum' as 'total nonsense
Russia’s own gas exports, which account for a fifth of the country’s overseas sales, could also be interrupted if Moscow is hit by Western sanctions. Yet this is a sword that would cut both ways. Europe is heavily dependent on Russian energy supplies. Gazprom, as well as sponsoring the Uefa Champions League football tournament, provides an estimated 30 per cent of the Continent’s natural gas; 40 per cent of Germany’s consumption; and 27 per cent of Italy’s. Europe also consumes a third of the 4.2 million barrels of crude oil pumped daily by Rosneft. A significant portion of those supplies arrive via pipelines that pass through the Ukraine.