The European Union is positioning itself to be completely cut off from all Russian energy. And if that happens, Germany and other heavily import-reliant countries in Europe will suffer a Lehman Brothers-type collapse of its energy market.
“Companies would have to stop production, lay off their workers, supply chains would collapse, people would go into debt to pay their heating bills, that people would become poorer,” he is quoted as saying.
Germany already faces a 60 percent reduction in natural gas from Russia, all because it refuses to pay for the energy in rubles demanded by Russia.
Had Germany and other Western powerhouses not imposed crippling economic sanctions against Russia over its “special operation” in Ukraine, Russia never would have changed the requirement that the West pays for gas in rubles – so the West only has itself to blame for what is now unfolding.Germany’s economic minister warns of catastrophic economic collapse stemming from energy shortage – Dr. Eddy Bettermann MD