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Germany Activates Gas Emergency Plans, Fearing Russian Supply Cut -Breaking

by Mike Robinson

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© Reuters

Geoffrey Smith 

Investing.com – Europe’s largest economy prepared for a Russian gas cut on Wednesday. The first phase of an emergency plan was activated.

Two days earlier than the deadline that Russia set for unfriendly states to pay for Russian energy delivery in rubles rather than dollars or euros, this move was made. Robert Habeck, the German Economy Minister, presided over Monday’s G7 meeting. The ministers all refused to comply with Russia’s demands and called this the “Early Warning” stage. There are two more stages that could lead to industry rationing, and they’re called “Emergency”, “Alarm”, or “Emergency”.

The largest European economy would be affected immediately if there is a reduction in industrial gas supply. Michael Vassiliadis (a director at Germany’s largest chemicals firm BASF) had stated on Tuesday that even 50% of supply would result in Ludwigshafen’s closure.

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