Germany Prepares for a Russian Gas Embargo

Financial Times: “Talk of a full-scale embargo on Russian energy is spreading panic in Germany, which until the war received 55 percent of its imported gas from Russia. The fear is that any sudden gas shut-off could paralyze large parts of the country’s industry…”

“Germany also faces the risk that Russia could itself retaliate against western sanctions by unilaterally stopping the flow of gas to Europe. Either way, Berlin is facing a scenario unthinkable even a few weeks ago — a gas supply shock that would force it to ration energy to industry and could shutter some of the country’s largest factories.”