Germany Says High Risks of Gas Embargo for German Economy
It is noted that only 20% of German companies expect to find alternatives to gas. Moreover, if Russia stops sending its gas to Germany, about two-thirds of energy-intensive enterprises using natural gas will face a significant reduction in production or even shut it down. In addition, every fifth non-energy company could limit production or stop it altogether.
According to the survey, 70% of German companies have suffered losses from energy price hikes since the start of Russia's special military operation in Ukraine. Almost every second company (45%) has already increased prices due to the economic consequences of the events in the territories of the Ukrainian state.
Earlier, a member of the Bundestag Committee on Climate Protection and Energy Steffen Kotre said that the embargo on Russian oil supplies will have a devastating effect on the German economy and will accelerate deindustrialization of the country.