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That would be an economic disaster and hurt living standards in the EU enormously. As one example, Germany imports 1/3 of its oil from Russia and 1/3 of its na
by TapWaterBandit 5y ago
That would be an economic disaster and hurt living standards in the EU enormously.
As one example, Germany imports 1/3 of its oil from Russia and 1/3 of its natural gas.
https://www.cleanenergywire.org/factsheets/germanys-dependence-imported-fossil-fuels#:~:text=Germany%20imported%2083%20million%20tonnes,and%20Norway%20about%2010%20percent https://www.cleanenergywire.org/factsheets/germanys-dependen....
Cutting that supply off would cripple their economy, send prices soaring on everything, drive up the price of oil in the global market as Germany + other EU nations tried to purchase elsewhere which would hurt many poorer nations etc.
Not saying it shouldn't be done, but lets not understate the impacts this would have and how incredibly destabilising a price rise of that magnitude on top of the Covid problems could be to the EU as a whole.
- nickpp 5y agoCan’t win the game of you’re not willing to lose a few pieces.