Sanctions against Russia are expected to cost Germany 5 billion euros each year

Sanctions against Russia are expected to cost Germany 5 billion euros each year

Sanctions against Russia are expected to cost Germany 5 billion euros each year

Sanctions against Russia

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  • Sanctions imposed by Russia on Gazprom According to industry representatives cited by the weekly Welt am Sonntag, Germania and its subsidiaries.
  • It might cost German taxpayers and gas users an extra 5 billion euros ($5.4 billion) every year to pay for substitute gas.
  • After Berlin placed Gazprom Germania under trustee administration in May as a result of Russia’s invasion of Ukraine, Russia chose to stop supplying the German subsidiary of Gazprom.
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Read More: No deal on new EU sanctions against Russia expected at leaders’ summit – Germany

Sanctions

Sanctions against Russia

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Since then, the German energy regulator, the Bundesnetzagentur, has had to acquire replacement gas on the market to meet supply commitments with German municipal utilities and regional suppliers as trustee.

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