Entire Industries in Germany Could Collapse Due to Russian Natural-Gas Supply Cuts: Union Head
- The sanctions by USA & EU on Russia are to destroy western Europe and America. It isn’t to harm Russia. The resulting hyperinflation in food and energy prices is collapsing other nations also: Sri Lanka, Middle East, Asia …. etc
– - Entire Industries in Germany Could Collapse Due to Russian Natural-Gas Supply Cuts: Union Head
by Huileng Tan, https://www.insider.com/
* Germany’s top union official said entire industries could collapse due to Russia’s natural-gas cuts.
* Europe’s largest economy is heavily reliant on natural gas piped in from Russia.
* A key gas pipeline will shut from July 11-21 for maintenance amid fears supplies will not resume after that.
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Entire industries in Germany could collapse due to natural-gas supply cuts from Russia, said Yasmin Fahimi, the country’s top union official.
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“Entire industries are in danger of collapsing permanently because of the gas bottlenecks: aluminum, glass, the chemical industry,” Fahimi, the head of the German Federation of Trade Unions, told Bild am Sonntag. “Such a collapse would have massive consequences for the entire economy and jobs in Germany.”
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The chemical industry, which employs about 346,000 people, is the third-largest industry in Germany, according to Germany Trade & Invest, the country’s investment promotion agency.
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Germany — Europe’s largest economy — is reliant on piped natural gas from Russia, which accounts for 35% of its imports of the fuel. The industrial powerhouse imports almost all of the natural gas it uses, which accounts for about a quarter of the country’s total energy mix, according to the economy ministry.
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