a pressure gauge is pictured at a gazsystem gas compressor station in rembelszczyzna outside warsaw october 13 2010 reuterskacper pempelfile photo madrid may 31 reuters  a potential halt of energy imports from russia would have a negative shortterm economic impact of eroding gross domestic product for the european union as a whole by between 25 and 42 spains central bank said on tuesday the bank of spain said in an analytical report that the magnitude of the estimated impact in the first year of trade suspension should later diminish reflecting europes increasing adaptability in replacing russian imports the economic brunt would be significantly greater in the three largest euro area economies  germany italy and france  and in eastern european countries due to their higher reliance on russian energy supplies the report said for germany there would be an estimated drop in activity of between 19 and 34 of gdp 2339 for italy 122 for france and between 08 and 14 for spain said javier quintana research economist from the bank of spain european union leaders agreed in principle on monday to cut 90 of oil imports from russia by the end of this year read more in germany the issue has been the subject of increasing debate given its relatively high energy dependence on russia for the eu as a whole there would also be an increase of between 16 and 27 percentage points in the inflation rate the report said projecting an additional 0812 percentage points for spain read more euro zone inflation rose to yet another record high of 81 yearonyear in may read more these projections subject to enormous geopolitical uncertainty are based on a hypothetical halt of all supplies of energy commodities from russia the suspension of imports of oil products would have a lower impact than the disruption of inflow of russian natural gas and coal it said a hypothetical halt of the remaining trade flows with russia would have an additional negative effect on european economies although its magnitude would be substantially smaller than that from energy raw materials reporting by jesús aguado additional reporting by emma pinedo editing by andrei khalip and bernadette baum