There is a broad consensus among Russia and economic experts that the previous, historically unprecedented economic sanctions against Russia are more likely to have a medium- to longer-term effect and that an EU embargo on oil and gas would have the greatest impact on the Russian economy and the finances of the Russian state. But at the same time, Berlin and Brussels were reluctant to do so because of the energy policy dependencies of Germany and the EU on Russia.
Nevertheless, the German federal government has not only put the long-controversial Nord Stream 2 gas pipeline project on hold. In fact, it is politically dead. The German companies Uniper and Wingas have already written off their financing shares. The federal government has also decided to reduce and stop fossil energy imports from Russia as soon as possible. Like the EU, the federal government has decided to completely reduce dependence on coal imports from Russia from 50 percent in 2021 by the end of August. According to the German Economics Ministry, import dependency has been reduced from 35 percent to 12 percent for oil and from 55 percent to 35 percent for natural gas.
Register easily for a monthly subscription to benefit immediately from all ESUT Digital advantages.To the monthly subscription
Digital monthly subscription
for €6.00 / month
Digital half-year subscription
for 30 € / 6 months
Digital Annual subscription
for 60 € / 12 months
Enjoy the premium content and other benefits ofESUT Digital:
- Access to all online content
- Comprehensive search in the news archive
- Customizable news area
- Backgrounds, analyzes and technical articles completely and exclusively from the European Security and Technology and the Defense Technical Reports
- Daily news from the categories industry / internal security / international / land / air / politics / armaments / sea / armed forces and much more.
Related topics
China's "pro-Russian neutrality" in the Russia-Ukraine conflict The European gas crisis and the manipulative role of Russia An end to discussions about Nord Stream 2? – The new bilateral gas deal versus new US sanctions The Ukraine conflict and German Russia policy The security policy dimensions of climate change Putin's nuclear threats - deployment option or psychological warfare Dangerous showdown – The struggle for gas and oil in the eastern Mediterranean Strategic implications of the attack on Saudi oil wells China's energy and climate policy - foreign policy climate protection rhetoric versus energy policy realities