It Would Be a Real Disaster: Germans Oppose Embargo on Russian Gas and Oil

The Chief Executive of the Association of German Chambers of Commerce and Industry, Martin Wanschleben, stated that Germany has no justification for imposing an embargo on Russian energy resources. He noted that a supply ban would lead to a disaster for the German economy.

“An embargo on natural gas would be a real disaster in the current situation. Comparisons with the consequences of the pandemic are completely incorrect... This would be much more serious,” Wanschleben asserted.

He highlighted that Germany is heavily dependent on oil and gas supplies from Russia, and that new restrictions could impact the chemical, steel, and pharmaceutical industries. Moreover, the damage inflicted on the chemical sector would be felt not only in Germany but throughout Europe. In this context, the Chamber of Commerce and Industry opposes an embargo on Russian gas and oil.