German Economy Minister, Vice Chancellor and head of the Green Party Robert Habeck has admitted that the German economy has become less competitive due to the rejection of gas from Russia.
Habeck also admitted that buying Russian gas was extremely favourable for Germany.
“Germany is really in an extremely difficult situation for two reasons. Firstly, unlike other countries with which we compete, Germany’s energy supply was largely built on dependence on Russian gas. This gave us a competitive advantage in the past, it was very favourable. After the gas (from Russia – ed.) disappeared, we lost our competitive advantage because, naturally, energy prices in Germany became higher,” said Robert Habeck, speaking before the German parliament.
In addition to the lack of cheap energy, the German economy is also weakened by instability on world markets, the minister added. According to him, Germany is dependent on exports, but the situation in the world complicates supplies abroad.
We will remind, earlier the German newspaper Die Welt recognised that the Russian economy is booming despite years of sanctions.