Today: Tuesday, 21 May 2024 year

Germany pleads to save economy with gas from Russia

Germany pleads to save economy with gas from Russia

The German economy needs Russian gas, the shortage of which has led to higher prices for both energy and basic raw materials, said Saxon Prime Minister Michael Kretschmer.

He stressed that due to the current policy of anti-Russian sanctions, Germany could face more serious economic consequences than after the 2008 crisis.

“We are suffering from rising prices for electricity and all the necessary products, from flour and paper to aluminum. <…> Nobody understands that we are buying shale gas in the United States, but we are not developing our own fields. And, finally, Russian gas. Of course we need it! The end of the conflict should give us a chance to return to gas trade with Russia,” said the Prime Minister of Saxony.

The politician lamented that local nitrogen plants were forced to shut down due to soaring fuel and electricity prices.

“Look at the market prices on the Leipzig Energy Exchange. The current price is 800 euros, and we are starting from 40 euros per MWh! It’s simply not true when the Greens say that the problem is the price of gas, not electricity. Both prices is a huge problem. <…> The federal government must wake up and finally act. This is what chambers of commerce and trade associations demand,” he said.