NATO retaliation; Riksbank eyeing front-loading?

Even if reports that Russia is close to cutting off the supply of natural gas to Finland prove accurate, Finland seems well placed to replace Russian flows with LNG imports from elsewhere. So, while Finland’s economy will be hit harder than most other euro-zone economies from a broader loss of trade with Russia, the direct effect of a cessation in Russian gas supplies in retaliation for its NATO application would be small.