5 months ago • 3:58 mins
Germany’s energy crisis took a turn for the worse last month after the government raised the country’s gas risk level to the “alarm” phase. And with a catalyst on the horizon that could trigger the final “emergency” stage, you should brace for the big consequences on the German economy – as well as the new winners that’ll be created in the energy industry.
Germany – which still relies on Russia for more than a third of its gas – enacted the initial “early warning” phase in March, bracing for a potential cut in supply after Russia demanded to be paid in rubles. That cut came last month after Gazprom slashed shipments through the key Nord Stream pipeline by 60% – a move that prompted Germany to raise the gas
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