Germany sets date for independence from Russian energy supplies

Germany sets date for independence from Russian energy supplies

German Vice Chancellor Robert Habeck says his nation’s heavy dependence on Russia’s energy supplies will be eliminated by the end of the current year.

The country will achieve independence from Russian coal by autumn, according to Habeck, who also serves as the country’s economy and climate minister. The top official added that Germany’s reliance on Russian crude is expected to be almost eradicated.

“We work every day, indeed every day, and sometimes every night, to reduce dependence on Russian oil, coal and gas,” Habeck said in an interview with German newspaper Frankfurter Allgemeine Zeitung.

“Every day, even every hour, we say goodbye to Russian imports.”

The share of Russian oil in Germany’s energy imports stands at 35%, while the share of coal amounts to nearly 50%, according to the latest data published by the German Economic Ministry.

“If we succeed, then by autumn we will be independent of Russian coal, and by the end of the year we will be almost independent of Russian oil,” Habeck said.

“It is more difficult with gas, because we do not have our own LNG import capacities. We are doing this now under high pressure.”

Earlier this week, the minister said the Ukraine crisis would strengthen the case for customers of Russian fossil fuels to pursue energy independence by boosting renewable sources.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

The last notes - Экономика

most read news

#Экономика

Germany may face shortages of such staples as toilet paper and cardboard if Russian gas supply dwindles in the coming months, German outlet Zeit Online reported on Wednesday.Operating paper plants may
подробнее...

The EU is planning to increase liquefied natural gas (LNG) imports from Nigeria amid concerns that supply from Russia may be cut, according to the deputy director general of the European Commission’s
подробнее...

Pay rises in Britain could fall behind inflation by almost 8% later this year, which will be the biggest fall in real wages for 100 years, the Trades Union Congress (TUC) said in a report published on
подробнее...

The business climate has substantially worsened in Germany, with industries feeling increasingly concerned about the coming months, according to a survey by a German think tank released on Monday.
подробнее...

Twitter operated at a loss in the second quarter and suffered a decline in revenue from a year earlier, reflecting struggles that the company blamed partly on its pending sale to billionaire Elon
подробнее...

The Chinese currency the yuan outperformed the euro by trading volume on the Moscow Exchange (MOEX) for the first time on record, trading data from Friday shows.According to the data, the trading
подробнее...

Japanese companies are no in a hurry to quit the Russian market, amid fears of being unable to return and having to find new suppliers, the Japan Times reported this week, citing a survey from the
подробнее...

The EU will allow transactions needed for Russian state-owned companies to sell oil to third countries, the EU Council said in a statement on Thursday.“With a view to avoid any potential negative
подробнее...

The Ukrainian government has moved to delay payments on foreign debt for two years, the country’s media reported on Wednesday. The restructuring will have to be approved by the creditors first, the
подробнее...

Ukraine’s state-run energy company Naftogaz has defaulted on its foreign debt, the firm announced on Tuesday.Naftogaz was unable to make payments on Eurobonds before a grace period expired, the
подробнее...

The German government and energy major Uniper are reportedly nearing an agreement under which the state will inject more than €5 billion ($5.1bn) into the business. The total commitment is likely to
подробнее...

The Russian Finance Ministry has announced a return to the public debt market by issuing a limited amount of OFZs, ruble-denominated sovereign bonds, in September, Deputy Finance Minister Timur
подробнее...

China’s C919 narrow-body jet, the country’s first domestically designed commercial passenger aircraft, is nearing certification, having successfully passed test-flight tasks, state-owned manufacturer
подробнее...

The EU has blocked a proposal to impose sanctions on Russian titanium producer VSMPO-AVISMA, the Wall Street Journal (WSJ) reported on Thursday.According to the report, the decision was made after
подробнее...

Cargo shipments via Russia’s Northern Sea Route in the first half of this year were 5% higher than in the same period of 2021, Russian Deputy Prime Minister Alexander Novak said on Monday.“In 2021,
подробнее...

Inflation in Britain accelerated at a faster pace than expected in June and hit 9.4% year-on-year, the highest increase since February 1982, according to data released by the Office for National
подробнее...

EU energy ministers have agreed on an unprecedented plan that will see member states voluntarily slash their gas consumption by 15% from August until next spring. The deal does come with exemptions
подробнее...

Creditors of Ukraine’s state-owned energy company Naftogaz have rejected the firm’s request for a two-year debt payment freeze, the country’s media reported on Monday.Naftogaz made the proposal
подробнее...