Germany faces a wave of bankruptcies due to the refusal of Russian gas

Germany faces a wave of bankruptcies due to the refusal of Russian gas

Germany faces a wave of bankruptcies due to the refusal of Russian gas
The refusal of Russian gas could lead to a sharp increase in the number of bankruptcies in Germany.  This will mostly affect small and medium-sized enterprises that do not have long-term contracts for the supply of natural gas.

The attention to the problem was drawn by the German media Handelsblatt. The published material contains data from a survey in which more than 40,000 German entrepreneurs took part. Among them, only two percent indicated that they were provided with energy purchases for more than three years in advance. The rest mainly have shorter-term contacts, which in the nearest future puts their activities at risk.

In connection with the current situation around Ukraine, more than half of the surveyed representatives of companies intend to attend to measures to improve energy efficiency.

At the same time, Germany currently does not have the opportunity to completely refuse of Russian gas. According to the government plans, this can happen only by 2024, while a complete rejection of Russian oil and coal is possible by the end of this year.

According to a representative of the German energy concern Uniper, the company intends to continue paying for Russian blue fuel in euro and is negotiating the terms of cooperation, while consulting with the government of its country. The concern believes that it will not be possible to do without Russian gas in the nearest future, TASS reports.


11.05.2022