EU's ban on Russian seaborne oil, combined with already-high inflation and supply-chain disruptions, will push the eurozone into a recession. Expect the eurozone economy to enter a recession by the end of 2022 or early-2023. EU economy will grow 2.2% in 2022 helped by carry-over effects, and contract 0.1% in 2023. The ban won't lead to lasting energy shortages, but it will take time before Russian oil imports are replaced and oil prices will almost certainly trend higher, the economic-growth forecast is subject to uncertainty. - Rabobank
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