German industrialists are frightened by the cessation of gas supplies from Russia

German unions feared the effects of the gas embargo
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Refusal to supply energy from Russia will lead to serious shocks in German industry. This warning was issued by the German trade unions.

“Explosive energy prices, but above all a possible gas embargo, will hit the energy-intensive industry hard,” Bloomberg was quoted as saying by Michael Vassiliadis, president of the German Chemical Union IGBCE. According to the industrialist, steel, chemical and paper industries are under threat of shutdown.

In addition, the abandonment of resources from Russia will be accompanied by rising unemployment, the newspaper writes. In particular, at least three million people could lose their jobs. Also, the abandonment of Russian fuel could lead to the destruction of existing industrial production chains.

On March 30, Russian President Vladimir Putin and German Chancellor Olaf Scholz discussed the payment for Russian gas in rubles, agreeing that this issue will be further considered by Russian and German experts. The German leader did not agree to the proposal of the Russian leader and asked for a written explanation of the payment scheme. Putin explained that the payment in rubles was introduced because NATO countries had frozen the Bank of Russia’s foreign exchange reserves, in violation of international law.

Earlier, Russia launched a special operation to demilitarize and denationalize Ukraine. Russian President Vladimir Putin has said that this is a forced decision needed to protect the people of Donbass from years of genocide. The European Union has condemned the launch of a special operation and imposed sanctions on Russia’s energy sector. Vladimir Putin said that Russia would respond by selling gas to “unfriendly” countries for rubles. The G7 countries have said they will not. The Kremlin has said that Russia will cut off gas supplies in this case.

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Refusal to supply energy from Russia will lead to serious shocks in German industry. This warning was issued by the German trade unions. “Explosive energy prices, but above all a possible gas embargo, will hit the energy-intensive industry hard,” Bloomberg was quoted as saying by Michael Vassiliadis, president of the German Chemical Union IGBCE. According to the industrialist, steel, chemical and paper industries are under threat of shutdown. In addition, the abandonment of resources from Russia will be accompanied by rising unemployment, the newspaper writes. In particular, at least three million people could lose their jobs. Also, the abandonment of Russian fuel could lead to the destruction of existing industrial production chains. On March 30, Russian President Vladimir Putin and German Chancellor Olaf Scholz discussed the payment for Russian gas in rubles, agreeing that this issue will be further considered by Russian and German experts. The German leader did not agree to the proposal of the Russian leader and asked for a written explanation of the payment scheme. Putin explained that the payment in rubles was introduced because NATO countries had frozen the Bank of Russia’s foreign exchange reserves, in violation of international law. Earlier, Russia launched a special operation to demilitarize and denationalize Ukraine. Russian President Vladimir Putin has said that this is a forced decision needed to protect the people of Donbass from years of genocide. The European Union has condemned the launch of a special operation and imposed sanctions on Russia’s energy sector. Vladimir Putin said that Russia would respond by selling gas to “unfriendly” countries for rubles. The G7 countries have said they will not. The Kremlin has said that Russia will cut off gas supplies in this case.

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