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Germany: What would be the consequences of an energy embargo on Russia?


Should the West stop importing energy from Russia because of the war in Ukraine? The German government opposes such an embargo.

One in two apartments in Germany is heated by natural gas. Gas also plays an important role in industry. However, a large part of it comes from Russia, thus filling through the war coffin of Russian President Vladimir Putin through imports. So should the West stop importing? The federal government is very careful. From the point of view of the ruling coalition, such an embargo would have serious consequences for households and businesses. The industry is also warning of the consequences.

The debate, however, is not just about an embargo by the West – just because Ukrainian President Volodymyr Zelensky has called for it. For the first time since the invasion of Ukraine, Russia has openly threatened to cut off gas exports via the Nord Stream 1 pipeline to the Baltic Sea. Whether this is going to happen is not yet clear.

Germany depends on Russia for fossil fuels

The fact is, however, that Germany is dependent on Russia for imports of fossil fuels. According to the Ministry of Finance, Russia’s share in imports of fossil gas to Germany is about 55%, in imports of crude oil around 35%, in coal around 50%. These data finally explain the recent statement of Chancellor Soltz that Europe consciously did not include the introduction of energy in the sanctions against Moscow.

Finance Minister Robert Habeck even sees a ban on energy imports from Russia as a threat to social peace in Germany. “We need these energy imports to maintain price stability, as well as energy security in Germany,” he said. In other words, an embargo on Russia would bring further increases in energy prices for consumers and companies, while heating bills would in some cases be a shock. The data in Germany is good for this winter, but for next year changes will have to be made in terms of gas storage and imports, said Habeck, who is planning a national gas and coal reserve. In addition, however, it plans a faster expansion of green electricity, wind and solar, thus reducing dependence on Russian imports.

“It’s something that the Commission’s support for: ‘We need to get rid of our dependence on gas, oil and coal from Russia,'” said Ursula von der Leyen. However, expanding renewable energy sources is not possible overnight. The president of the Association of German Industries, Siegfried Roussworm, even warned that “discussions on a European energy embargo against Russia are a game of fire.” The consequences of such a decision could be dramatic: “It is impossible to replace these overnight energy imports.”

Claudia Kemfert, an energy expert at the German Institute for Economic Research, also said that a possible cut in energy imports from Russia could be offset – with imports from other countries, renewable energy sources and energy savings could be reduced. the temperature to a degree in their home, while the industry has a lot of potential to save energy “.

Andreas Henning (dpa)

Edited by: Chryssa Vachtsevanou

Source: Deutsche Welle

Source: Capital

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