Germany warns of Lehman-like contagion from Russian gas cuts

The Edge Markets LogoThe Edge Markets1 mo ago

Germany warns of Lehman-like contagion from Russian gas cuts

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The alert stage also gives the government an option of enacting legislation to allow energy companies to pass on cost increases to homes and businesses.

The standoff escalated last week after steep cuts to the main gas link to Germany, putting reserves for the winter at risk.

Habeck, who is also vice chancellor, said Russia’s move to cut gas deliveries through the Nord Stream pipeline makes it all but impossible to secure sufficient gas reserves for the winter without additional measures.

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Category: InvestingFinance

Topics: Germany Russia’s Habeck Energy Market Crisis Supplies Prices Consumers Suppliers Businesses

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2022-06-23, 22:31:29

News Timezone: GMT +8:00

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Language: English

Reading Time: 6 minutes read

Article Length: 941 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 6534

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