Index - Economy - The German government is in trouble, preparing for a sudden shutdown of Russian gas

Index – Economy – The German government is in trouble, preparing for a sudden shutdown of Russian gas

The Ministry of Economy’s preparations show it is in increased readiness in Europe’s largest economy.

The German government is expected to support the provision of additional loans and guarantees to energy companies to help them cope with rising prices. But important companies such as refineries will be directly subject to the ward.

German Economy Minister Robert Habeck said his country had made “intense efforts” in recent weeks to reduce energy consumption in Russia.

Last month, Berlin also approved an amendment to the law that would eventually allow it to take control of energy companies.

The German government has previously stated that it wants to separate from Russian energy, but remains dependent on Moscow until mid-2024.

It is not yet clear when Berlin will be able to break away from Moscow. Reuters reports that Germany previously backed coal and oil sanctions against Moscow, so it may not be able to support gas restrictions right away.

(Cover photo: Gazprom Germany GmbH is headquartered in Berlin on April 5, 2022. Photo: Liesa Johannssen-Koppitz/Bloomberg/Getty Images)

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