German Economy Minister Robert Habeck said on Wednesday: “Germany will not accept any breach of the gas contract by Russia“, according to Reuters.
Habeck has added that the German government will create a crisis task force to monitor gas supply.
Additional comments
The gas crisis measures are preventive.
Consumers and businesses are urged to reduce gas consumption.
Crisis measures were taken after Russia demanded payment for gas in rubles.
German gas storage is at around 25% capacity.
The key question is how full gas storage facilities will be in the fall.
High gasoline prices are pushing down consumption.
EU countries must deal with any stoppage of Russian gas supply together.
All gas delivery contracts are being honored at the moment.
Source: Fx Street
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