The West’s sanctions against Russia for its invasion of Ukraine are proving successful and are increasingly impacting the aggressor. Robert Habeck, the federal deputy chancellor and German minister of economy and energy, said that they had hurt him. He spoke before the Bundestag (the federal parliament), on Thursday. Before this, he stated that the Russian economy was in serious trouble. Although Russia continues to make billions of euro for its oil and gas, the environmentalist politician said that Russia can now buy less with this money. Habeck stated that Russian President Vladimir Putin will not be able “to tolerate this situation any longer.”
In recent months, Russia’s exports have been reduced by more than half by countries that joined sanctions. However, the sales of those states who did not join the punishment have fallen by 45%. This was assured by the German head for Economy. Habeck stated that the necessary security checks were not being performed on Russian commercial aircraft. This means that they will have to all remain on the ground for a short period of time.
Russia is also suffering from a shortage of technical supplies. This is causing the “destruction of” many production processes within its industry. “Putin continues earning money, but he can’t spend it,” and “no one wants” to invest in Russia. The number two German government assured that time works against Russia and against the Russian economy. He stated that Russia’s GDP had already dropped by 9%, its financial credit has fallen to the lowest levels on international markets, and that investments in Russia have plummeted by 34%.
While the green politician admitted that Germany’s dependence on Russia for its energy is shameful, he stressed that Germany’s economy and population are contributing significantly to the pressure that the Moscow regime is under by taking on the increased fuel and energy costs. Habeck stated that “We do it because Putin’s economy is being damaged.” He also said that Germany makes its economic-political contribution in order to see the war come to an end.
