The economic upswing in Europe is a delicate plant.
We need secure supply chains so that recovery does not run out of energy.
This applies in particular to the supply of raw materials.
Because the rapidly increasing demand for raw materials is currently leading to a bottleneck and thus to price increases.
In addition to the difficult to predict development of the Covid pandemic, three factors in particular are jeopardizing the upswing: inflation, tax increases and the announced CO2 levies.
Conversely, I see three strategic answers to secure the economic recovery: firstly, further market opening, secondly, greater security of supply and thirdly, more sustainability in the energy sector.
Questioning sanctions
As Europe's largest export nation, Germany should recognize the growth potential that results from cooperation with Russia.
As President of the German-Russian Chamber of Commerce Abroad (AHK), the largest foreign trade association in Russia with more than 1000 members, I am committed to questioning the sanctions against Russia.
I am not alone in this opinion.
92 percent of the member companies of the AHK also advocate this.
The sanctions should therefore be withdrawn step by step or, ideally, completely.
But rapprochement requires two partners.
Russia must show very clearly that it is initiating an easing of the tension in the conflict in eastern Ukraine.
Only then can the sanction screw finally be turned back.
Industry relies on oil and gas
On the issue of security of supply, against the background of the EU's climate policy goals, I advocate concentrating on our own strength in Europe. Even if investments in oil and gas production are constantly disadvantaged by the EU Commission, companies and citizens will continue to be heavily dependent on fossil raw materials in the years to come. Most of the existing vehicle fleet in Europe runs on petrol and diesel. European industry is also dependent on a secure energy supply with oil and gas.
The completion of the Nord Stream 2 Baltic Sea pipeline from Russia to Germany is therefore a milestone for security of supply in Europe. It is by no means about creating future transit monopolies. On the contrary, Nord Stream 2 contributes to the diversification of the energy supply. Of course, the pipeline through Ukraine to Western Europe must also be maintained and renewed.
We are currently seeing high prices and empty storage facilities in the gas market. The low storage volumes are not due to the severe winter alone. Rather, the lower quantities of liquefied natural gas (LNG) and reduced import quantities from Russia are responsible for this, as there were technical difficulties in a condensate plant in northern Siberia. If Nord Stream 2 had already been in operation and had not been delayed for political reasons, these delivery problems would not have existed.