Germany steals the tail end of the Russian gas pipeline, believing that will secure the supply coming from the other end.
“Economy Minister Robert Habeck announced the decision on Monday, arguing it would mean that Germany’s energy infrastructure is not “subject to arbitrary decisions by the Kremlin.” “The arrangement of the trust administration serves to protect public safety and order and to maintain the security of supply,”
“Kremlin spokesman Dmitry Peskov nevertheless stated that any nationalization of Russian companies by Berlin would “seriously violate international law,” deeming it “unacceptable.”
Germany seizes Russian gas company — RT Russia & Former Soviet Union
“Germany will plunge into recession if Russian gas and oil are cut off, the country’s top bank warned on Monday.
Economic growth in Europe’s biggest economy was already expected to be much slower than previously anticipated due to the conflict in Ukraine, said Christian Sewing, the chief executive of Deutsche Bank and president of the Association of German Banks (BDB).
“The situation would be even worse if imports or supplies of Russian oil and natural gas were to be halted. A significant recession in Germany would then be virtually unavoidable,” he told journalists on Monday.”
Recession bell tolls for Europe’s top economy — RT Business News
