Europe depends heavily on commerce with Russia, especially on energy.
Russia is the EU’s most important trading partner after the US and China. The EU is Russia’s largest trading partner by far.
For instance, over 45 percent of the coal imported into Britain comes from Russia.
Some two thirds of the Russian gas that is exported to the EU is piped through Ukraine
France is resisting calls to freeze the sale of military hardware to Russia because it is selling two warships to the Russian navy.
Even without a full scale war, the crisis in the Ukraine has the potential to push the European economy at least back into recession.