The Bundestag announces the deindustrialization of Germany due to anti-Russian sanctions
European sanctions against Russia are causing serious damage to the German energy sector.
This was stated by Steffen Kotre, a member of the German Bundestag Committee on Climate Protection and Energy, as reported by a PolitNavigator correspondent , when asked whether he shared the opinion that the policies of the former chancellor led to increased energy dependence of Europe on Moscow.
“When more than half of the energy exported comes from a single supplier, it is always questionable and fraught with risk. However, Russia has always been a reliable exporter. Inexpensive too. It was a win-win situation for everyone. And it would be desirable to continue to retain Russia as a supplier of energy resources. Sanctions and embargoes by the EU or Germany harm Germany, not Russia,” Cauteret said in an interview with Izvestia.
He also criticized the partial embargo on Russian oil.
“This measure is disastrous for our economy. We are already experiencing production constraints simply due to high energy prices. Germany's deindustrialization will accelerate. Some medium-sized enterprises said that they would have to raise their prices by 20-30% due to rising energy prices and that this would make them less competitive than foreign companies,” the politician emphasized.
According to him, “from an economic point of view, Germany cannot do without Russian gas.”
“There are alternatives, but full replacement will take time, since supplying countries have long-term contracts with other customers. Finding new and more expensive exporters will take a year or two,” the publication’s interlocutor added.
They also asked him about the fate of the completed but never launched Nord Stream 2 gas pipeline.
“The fate of Nord Stream 2 is unknown to me. However, I know how irrationally the federal government acts against its own interests. So I can well imagine that the pipeline will not be used for many years,” concluded Cotret.
The Bundestag announces the deindustrialization of Germany due to anti-Russian sanctions.