German industry rejects an embargo on Russian energy supplies.
"Debates about a European energy embargo against Russia are playing with fire," Siegfried Russwurm, President of the Federation of German Industries, told the German Press Agency.
"An embargo threatens to punish Germany and the EU more severely than the aggressor."
Russwurm warned that the consequences of an energy embargo on industrial value creation, supply chains and security of supply could be dramatic.
“It is impossible to replace these energy imports overnight.
About a third of the oil used in Germany and more than half of the natural gas currently comes from Russia.”
Ukraine calls for boycott
Ukrainian President Volodymyr Zelenskyj had called for further and tougher sanctions against Russia because of the continued Russian attacks on his country.
A boycott of Russian exports is necessary, and with it a ban on oil and natural gas from Russia.
The federal government rejects such an embargo.
Chancellor Olaf Scholz (SPD) said on Monday that Europe had deliberately excluded energy supplies from the sanctions against Russia because of the Ukraine war.
"There is currently no other way of securing Europe's supply of energy for heat generation, for mobility, for power supply and for industry."
Industry President Russwurm said: “Our companies are very concerned about their energy supply and competitiveness.
The federal government must do everything in its power to ensure that Germany diversifies its energy sources and becomes less dependent on Russian energy supplies as soon as possible.”