Germany has activated the first stage of an emergency plan to manage gas supplies in Europe’s largest economy in preparation for a possible disruption or stoppage of natural gas flows from Russia. read more Russia accounted for 55% of Germany’s gas imports in 2021. Although that figure fell to 40% in the first quarter of 2022, Economy Minister Robert Habeck has said Germany will not achieve full independence from Russian supplies before mid-2024. WHAT’S THE PROBLEM? Moscow said last week it would draw up a mechanism by March 31 under which so-called “unfriendly” countries – those behind sanctions imposed over Russia’s invasion of Ukraine – would pay for gas in roubles. That includes Germany, Europe’s industrial powerhouse, and other European allies. Most now pay in euros or dollars. Habeck, who is the minister responsible for Germany’s energy security, has rejected Russia’s demand, saying contracts […]