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Germany To Keep Russian Oil Supply

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Robert Habeck, Economic and Energy Minister for the Green party in Germany, has warned that if Germany flips the switch to boycott gas and oil supplies from Russia, it will hurt the German population more than it will hurt Russia.

Germany will face a shortage of supplies or even supply stops. He has predicted that germans will face mass unemployment, poverty and people will not be able to heat their homes or fill their cars.

Russia supplies Germany with 55% natural gas, 52% coal and 34% of mineral oil. Habeck has said his government is working hard to give up using Russian coal by summer, and to phase out oil by the end of the year. He ruled out a short-term ban as it will leave the country exposed.

The German Chancellor Olaf Scholz has said his hands are tied when it comes to Russian energy. They currently have no other way to secure Europe’s energy supply to generate heat, power supply, mobility and industry.

According to think tanks and economic institutes, an immediate stop to Russian supplies will shrink Germany’s GDP by as little as 5.2 percentage points.

Other members of Germany’s parliament want an immediate cut off with them leaning towards more green energy sources. The Chancellor is waiting on its gas resources to refill as it was under supplied by Russia during winter. Until Germany can find another source for its energy supply, they will have to stick with Russia. Everything else takes time.

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