The German government has announced plans to suspend almost all oil imports by the end of the year and phase out Russian gas by mid-2024. This is an extremely ambitious plan that poses huge challenges for Europe’s largest economy, writes Bloomberg.
On Friday, Economy and Climate Minister Robert Habeck presented the plan, reiterating that Germany would not support an immediate embargo on Russian energy exports because the consequences for companies and households would be too severe. At the same time, Chancellor Olaf Scholz promised the country “as soon as possible” to end its dependence on Russian energy.
Germany itself has limited natural resources, so it relied on Russia for more than half of its gas, almost half of its coal and about a third of its oil, and the invasion of Ukraine was a brutal test of reality for Berlin politicians.
Germany wants to halve Russian oil imports by the middle of the year and become “almost independent” by the end of 2022, Habek said. He added that by autumn the country could completely stop importing coal.