Punitive measures aimed at Moscow are “painful” for the German economy, Chancellor Scholz says
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German Chancellor Olaf Scholz said on Tuesday that Western sanctions against Russia have had a negative impact on his country’s economy.
While talking to German industrialists, he noted that the “unprecedented sanctions” imposed on Moscow by the West are “working.” The chancellor, however, added that they are “painful” for the German economy as well, particularly for the country’s energy companies.
The nation’s vice chancellor and economy minister, Robert Habeck, warned this month that Germans should brace for a difficult autumn and winter due to skyrocketing prices, as the country pushes for independence from Russian energy.
According to him, prices are already extremely high and “many people will get significantly higher bills than usual” in the upcoming heating season.
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