Ukraine-News: Industry raises the alarm - oil and gas import freezes could have dramatic consequences
Created: 03/12/2022, 14:39
By: Patricia Huber
The voices after stopping gas supplies from Russia are getting louder - but there are also other opinions.
© Stefan Sauer/dpa
The Union faction in the Bundestag is demanding a stop to gas supplies via the Nord Stream 1 pipeline due to the Ukraine war. The industry is concerned about a possible import ban by Germany.
Berlin – With a view to the already noticeable impairment of the German economy by the Ukraine war *, business associations have warned of the consequences of further sanctions against Russia – an embargo for oil or gas would be possible.
“In the German economy there is broad approval for the tough sanctions.
Because war is not a basis for business,” said Martin Wansleben, General Manager of the Association of German Chambers of Industry and Commerce (DIHK) of the
Rheinische Post
(Friday).
The previous sanctions are beginning to take effect step by step.
The metal and chemical industries also warned of the costs of stopping imports of energy from Russia.
Ukraine-News: Expert warns not to underestimate the economic consequences of the war
"Due to concrete information from the companies, we know that the repercussions on the German economy in the coming months should not be underestimated," Wansleben continued.
"This applies not only to further increases in energy prices, but also to distortions in the supply chains that have a broad impact on the economy," he warned.
More and more medium-sized industrial companies could no longer afford production in Germany at these prices.
“In addition, there is the concern of having to shut down our own systems, at least temporarily, due to energy shortages.
Every politician in Europe should take this economic situation into account,” said Wansleben.
The metal and electrical industry also warned of the economic consequences of an energy embargo.
"If Germany should decide to stop importing gas or oil from Russia, that would have a dramatic impact on our industry, but also on private households," Stefan Wolf, President of the Gesamtmetall Employers' Association, told the
Frankfurter Allgemeine Zeitung
(Friday ).
“Inflation would be in double digits.
Security of supply would be seriously jeopardized.”
War in Ukraine: Chemical industry requires enormous amounts of oil and gas
The chemical industry referred to the large consumption of oil and gas in the sector.
If there were longer plant failures due to an energy embargo, this would have massive consequences for the value chains in Germany, the Association of the Chemical Industry (VCI) said on Friday in Frankfurt.
About 95 percent of all industrial products require chemical products, from cars to computer chips and insulating materials to televisions, medicines and detergents.
"Anyone who switches off the energy and raw material supply for the chemical industry at short notice will also paralyze the entire industrial production in Germany as a business location," said Managing Director Wolfgang Große Entrup of the dpa.
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Chancellor Olaf Scholz* (SPD) continues to rely on energy imports from Russia.
In the EU, however, positions are divided, as was shown at the special summit in Versailles on Thursday.
The US government has already imposed an import ban on Russian oil.
Supporters of an energy embargo criticize the fact that German energy imports from Russia ultimately help finance the Ukraine war.
The Union faction in the Bundestag has called for a stop to gas supplies via the Nord Stream 1 pipeline.
This would "mean a new quality in the sanctions," said parliamentary group leader Friedrich Merz.
SPD parliamentary group leader Matthias Miersch considers a complete renunciation of oil, gas and hard coal from Russia to be conceivable as the last option.
According to the Federal Ministry of Economics, around 55 percent of the imported natural gas comes from Russia.
According to the VCI, one third of German oil imports come from Russian sources.
Russia: Natural gas stop could endanger security of supply
Oliver Hermes, Chairman of the Committee on Eastern European Economic Relations, warned of the dangers to security of supply in Germany.
"A short-term halt to natural gas imports would massively endanger entire branches of industry and the supply of households with electricity and heat." Unlike oil and coal, alternative procurement options for natural gas are not sufficiently available in the short term, Hermes said.
All measures are supported to end the Russian war against Ukraine as soon as possible.
"However, we share the negative attitude of the federal government with regard to a supply freeze for Russian natural gas."
The Association of the Automotive Industry (VDA) made a similar statement.
"Without a doubt, Germany and Europe must overcome their dependence on Russia for energy supplies," VDA President Hildegard Müller told dpa.
However, the government must also see the consequences for people and the economy and weigh up the consequences.
"A short-term ban on the import of oil, coal and especially gas endangers a secure energy supply and industrial production processes."
(dpa) *Merkur.de is an offer from IPPEN.MEDIA.
