15-03-2022, 11:35 PM
Steel mills and paper companies are shutting down their factories, freight forwarders fear bankruptcies, fishermen are leaving their cutters in port. The energy price shock caused by the war is hitting many sectors hard.
The oil and gas prices, which have risen dramatically within a few weeks as a result of the Ukraine war, are increasingly slowing down the German economy.
Energy-intensive sectors in particular are groaning under the price shock. Siegfried Russwurm, President of the Federation of German Industries (BDI), complains that there is a danger that they will not be able to keep up "the immense electricity and gas prices" much longer.
https://www.tagesschau.de/wirtschaft/unt...t-101.html
The oil and gas prices, which have risen dramatically within a few weeks as a result of the Ukraine war, are increasingly slowing down the German economy.
Energy-intensive sectors in particular are groaning under the price shock. Siegfried Russwurm, President of the Federation of German Industries (BDI), complains that there is a danger that they will not be able to keep up "the immense electricity and gas prices" much longer.
https://www.tagesschau.de/wirtschaft/unt...t-101.html