The chairman of Federation of German Industries (Bundesverband der Deutschen Industrie) issues a warning about a complete embargo on oil and gas from Russia. This could, according to his statement, generate a severe recession in Germany and Europe. Furthermore the european gas network is not ready for transporting LNG through Europe, SPON:
Forgoing imports of Russian gas and oil in the short term would cause massive damage to European industrial companies, according to the Federation of German Industries (BDI). "The EU is not prepared for a short-term, comprehensive energy embargo," BDI President Siegfried Russwurm told SPIEGEL. “In doing so, it would jeopardize its unity and ability to act economically and politically.” If there were no energy supplies, production stops threatened with unforeseeable consequences for supply chains and employment.
A boycott of Russian gas supplies would threaten the entire EU with a "structural test," Russwurm continued. Because the European gas network has not yet been designed for gas flows from West to East. "It is unclear whether, if Russian gas supplies are stopped, liquefied gas that ends up in the Netherlands or Belgium will find its way to the Czech Republic or Slovakia," said Russwurm. A gas embargo would cause disruption to production, loss of employment and, in some cases, massive damage to production facilities. A number of other business associations had already warned of this.
A boycott of Russian gas supplies would threaten the entire EU with a "structural test," Russwurm continued. Because the European gas network has not yet been designed for gas flows from West to East. "It is unclear whether, if Russian gas supplies are stopped, liquefied gas that ends up in the Netherlands or Belgium will find its way to the Czech Republic or Slovakia," said Russwurm. A gas embargo would cause disruption to production, loss of employment and, in some cases, massive damage to production facilities. A number of other business associations had already warned of this.
"We support the sanctions imposed on Russia by the western allies," said BDI President Russwurm. »We are aware that further harsh and unequivocal reactions may have to follow.«
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