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Tuesday, May 24, 2022
HomeEconomyGermany's energy industry predicted "martial law" without Russian gas

Germany’s energy industry predicted “martial law” without Russian gas

Bloomberg: Russian gas shutdown could lead to ‘martial law’ in Germany’s energy sector

A sudden shutdown of Russian gas could lead to “martial law” in Germany’s energy sector, Bloomberg analysts Vanesa Desem and William Wilks predicted.

The material indicates that such a situation could affect 80 million people, as well as a number of businesses, from bakeries to chemical manufacturers.

“Economists forecast damages of 220 billion euros, more than enough to push the country into recession,” says the publication. Analysts say the possibility of a sudden Russian gas shutdown arose this week after Moscow cut natural fuel supplies to Germany.

Earlier it became known that Russia imposed blocking sanctions against the Gazprom Germania group. In addition, Poland’s EuRoPol GAZ SA, which owns the Polish section of the Yamal-Europe gas pipeline, and the Wingas/WIEH/WIEE trading group, which holds a package of contracts for the supply of Russian gas, as well as the largest gas storage operator in Europe, Astora, fell under restrictive measures. The complete list includes 31 companies.


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