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Economics

Germany Risks a Cascade of Utility Failures, Economy Chief Says

  • Further gas cuts would be logical in Putin ‘economic warfare’
  • High natural-gas prices risk creating domino effect: Habeck
Robert Habeck
Robert HabeckPhotographer: Liesa Johannssen-Koppitz/Bloomberg

Germany should prepare for deeper cuts in Russian gas supplies because President Vladimir Putin is pursuing a conscious strategy of driving up prices to undermine European unity, Economy Minister Robert Habeck said.

“We aren’t dealing with erratic decisions but with economic warfare, completely rational and very clear,” Habeck, the deputy chancellor in Olaf Scholz’s government, said Saturday on a panel. “After a 60% reduction, the next one logically follows.”