The situation in the Ukraine conflict remains tense. An expert issues a warning in case of a Russian invasion.
Kiev/Moscow/Berlin – According to experts, a Russian invasion of Ukraine would have enormous consequences for consumers in Germany. Clemens Fuest, head of the Ifo Institute in Munich, even assumes a “price shock”. According to the Reuters news agency, Fuest emphasized that oil and gas prices would be hit specifically. “Even if gas supplies were not restricted, there would be a price shock, at least temporarily,” said the expert.
According to its own statements, the Ifo Institute is expecting an inflation rate of four percent in 2022, probably the highest value since 1993. “Should a war break out, it could be even higher,” Fuest warned in an interview. “Should there be a Russian invasion”, the price of oil could rise to up to 120 US dollars, agreed Gabor Vogel, raw materials expert at DZ Bank, to the news portal t-online.de Fuest.
Ukraine conflict: “The damage to Russia is greater”
Surprisingly, the Ifo Institute sees no one-sided dependency in the Ukraine conflict*. Germany needs the Russian gas, but Russia* also needs the money from Europe. “The damage to Russia is greater,” said Lisandra Flach from the Reuters news agency.
Putin’s pipelines
Gazprom’s power in the Ukraine conflict*
According to Flach, a delivery stop by Russia is relatively unlikely. The EU can also get gas from other sources, such as LPG via shipping. According to the expert, it is important that Germany builds infrastructure for alternative gas procurement in the future. (tu) *fr.de is an offer from IPPEN.MEDIA.
