If Germany decides to sever trade ties with Russia, this will cause irreparable damage to its production.
Paul Grunwald, chief economist at S&P Global, warns about this, the political magazine PolitExpert reports. For Berlin, the reduction in turnover with the Russian Federation will be a real financial shock, from which it will be very difficult to recover.
“It’s not even about refusing gas. It doesn’t matter if Germany stops buying the resource or Russia turns off the valve,” the expert said.
Approximately 40% of all gas in Europe comes through Russian pipelines, and another 25% through the Ukrainian gas transmission system. The region has long been dependent on fuel from the Russian Federation and cannot do anything about it.
In addition, Grunwald warns that a break in economic relations with Russia could lead to a reduction in GDP, a decrease in employment, and a deterioration in trust in the government.
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