Germany Warns of Industry Shutdown If Russian Gas Stops Flowing
- Economy Minister Habeck urges policymakers to learn from past
- Russia-Ukraine gas transit agreement due to expire next year
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Germany may be forced to wind down or even switch off industrial capacity if Ukraine’s gas transit agreement with Russia isn’t extended after it expires at the end of next year, according to Economy Minister Robert Habeck.
Habeck, who is also the vice chancellor, issued the stark warning Monday at an economic conference in eastern Germany, saying that policymakers should avoid “making the same mistake again” of assuming that the economy will be unaffected without precautions to secure energy supplies.