What Will be the Cost of Replacing Russian Energy Sources for Germany?

Germany must fully utilize its fiscal policy to protect the economy and maintain investments in business and industry. This was stated by Germany's Minister of Economics Robert Habeck to Reuters.

According to him, the capacity for German businesses and industry to invest is slightly concerning given the high prices of energy sources.

He added that the obligatory replacement of Russian energy imports will cost the largest economy in Europe approximately 60 billion euros this year, and 100 billion euros next year.

It is expected that Chancellor Olaf Scholz will sign liquefied natural gas (LNG) supply contracts during his visit to the United Arab Emirates this weekend, he added.