«Problems of economics and management of oil and gas complex»

Impact of the EU sanctions policy in the gas sphere on the economy and energy of Germany

UDC: 339.92
DOI: 10.33285/1999-6942-2022-8(212)-57-64

Authors:

¹ National University of Oil and Gas ″Gubkin University″, Moscow, Russia

Keywords: Russia, Germany, natural gas, energy cooperation, the European Union, sanctions

Annotation:

The authors of the article stress the high importance of the supply of Russian energy resources to Germany for ensuring the development of the country's economy and energy. It should be noted that the events of February 2022 had a negative impact on the current state of this cooperation. The refusal from Russian energy carriers leads to a deterioration in macroeconomic indicators, primarily due to the lack of the necessary volumes of gas, oil and coal to meet the domestic needs of both the EU states and Germany. Being one of the leading countries in economic and industrial development in the European Union, Germany is forced to follow the sanctions against the Russian Federation, thus causing serious damage to the social and economic development of Germany. The policy of de-carbonization of the states of the European Union, which has been actively promoted in recent years, does not save either. It faced a number of challenges and problems, and led to the appearance in these countries of elements of economic, energy and industrial crises. According to the authors’ opinion, in the future, destructive processes in all significant sectors of the national economy will be observed in the EU member states. The authors believe that the sanctions policy does not meet the interests of the states of both the European Union and Germany.

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