German retail sales unexpectedly fall in March
German retail sales fell unexpectedly in March as the war in Ukraine leads to price increases, data showed on Monday. The Federal Statistics Office said retail sales were down 0.1% Continue Reading
Germany Drops Opposition to Embargo on Russian Oil
Germany is now ready to stop buying Russian oil, clearing the way for a European Union ban on crude imports from Russia, government officials said. Berlin had been one of Continue Reading
Germany Could Ban Russian Oil In ‘Days’
Germany has already cut Russian oil imports by over 20%, with officials now spreading optimism that it could be only a matter of days before the country is capable of Continue Reading
German cabinet backs possible nationalization of energy firms
Germany’s cabinet on Monday approved a legal amendment that would enable the government to seize ownership of energy companies as a measure of last resort to secure supplies in the Continue Reading
Rising energy prices push almost half German companies to cut new investments – survey
Around 40% of German companies are already feeling the impact of rising energy prices and almost half want to reduce investments due to rising energy costs, a survey showed on Continue Reading
Germany To Drill For Gas In North Sea To Reduce Reliance On Russia
In a concerted move to move away from its heavy reliance on Russia amid the Ukraine crisis, Germany authorities have finally given in and allowed gas drilling to proceed in Continue Reading
Germany Pledges To Halt All Russian Oil Imports By End Of Year
In Germany’s most definitive statement yet regarding Russian oil and gas imports, the German Foreign Minister has pledged that the country will cease importing Russian oil entirely by the end Continue Reading
Germans should save energy to put pressure on Russia – minister
Germans should start saving energy now to become more independent from Russian fossil fuels, Economy Minister Robert Habeck said, as Europe’s top economy looks for ways to cut gas and Continue Reading
Germany Faces $240 Billion Hit If Russian Energy Cut Off
An immediate interruption in Russian energy supplies over the war in Ukraine could jeopardize 220 billion euros ($240 billion) of German output over the next two years, a report warned. Continue Reading
Germany could end Russian oil imports this year – Scholz
Germany could end Russian oil imports this year, Chancellor Olaf Scholz said on Friday, signalling the urgency driving Europe’s biggest economy to wean itself off energy from Russia following its Continue Reading