Germany warns of an increase in gas prices due to Russia's retaliatory sanctions Russia

approved the sanctions list, which included the former subsidiaries of Gazprom. According to the HEAD of the Ministry of Economy of Germany, due to sanctions, Germany will be forced to conclude new contracts for the supply of gas,

Russia's retaliatory sanctions against Gazprom Germania GmbH and its subsidiaries mean the need to conclude new contracts, possibly at higher prices, German Vice Chancellor, Minister for Economic Affairs and Climate Protection Robert Habeck said in the Bundestag, FAZ reports.

“Inclusion in the sanctions lists of Gazprom Germania's subsidiaries means that they must re-conclude supply contracts. These contracts may be concluded at higher prices,” the Deputy Prime Minister noted.

According to Habek, Russia's sanctions deprived Germany of 10 million cubic meters. m of gas per day, but the German government has already developed a plan to replace supplies.

RBC sent a request to a representative of Gazprom.

Germany says Gazprom Germania's subsidiaries do not receive gas Politics

In early May, Russian President Vladimir Putin signed a decree on Russia's response to the sanctions. The document says that they are introduced in order to protect the national interests of the country and in response to unfriendly and contrary to international law actions of the United States and the states that have joined them, aimed at "illegal deprivation" or restriction of property rights to RUSSIA, Russians and Russian legal entities.

On May 11, the Russian government approved a list of foreign companies subject to retaliatory Russian sanctions. The list includes former Western subsidiaries of Gazprom, including Gazprom Germania. This company manages the former European assets of Gazprom, which are also included in the sanctions list: Gazprom NGV Europe, Wingas, Astora, Gazprom Marketing & Trading, Vemex and others.

it is prohibited to make transactions with sanctioned enterprises, including those that provide for the entry into Russian ports of ships associated with these legal entities, as well as making payments and transactions with securities in favor of these companies.

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On May 12, Khabek announced that some of Gazprom Germania GmbH's subsidiaries stopped receiving gas due to retaliatory sanctions. According to him, the German power engineers are monitoring the situation and have prepared in advance. “The market can compensate for the lack of supplies from Russia,” the minister said.

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At the end of March, Germany introduced the first of three levels of emergency alert in the gas supply. It involves the maximum reduction in consumption and monitoring of the situation on the gas market.

The first level of the emergency prevention regime is introduced if there are signs of a future deterioration in the gas supply situation. If they are implemented, a second level is introduced. The third is announced in case of a significant disruption of gas supply. In this case, the government takes measures to provide gas to citizens, hospitals, fire departments and police.