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Added on the 04/04/2022 15:48:42 - Copyright : AFPTV - First images
The German government has activated its emergency plan for gas supplies, as fears rise that Russia could cut off the flow of gas to Europe. The early warning, announced by economy minister Robert Habeck, is the first of three stages in Berlin's emergency plan, aimed at securing supplies. The move comes as Moscow insists it be paid in roubles for Russian gas. Also today, we report on how the sanctions on Russia are affecting the diamond trade in Antwerp.
European Central Bank President Christine Lagarde warns that the eurozone could fall into recession next year in the case of a total shutdown of Russian gas supplies. The "downside scenario" for 2023 foresees negative growth in the case of a "total shutdown of all Russian gas supply" and energy rationing in the eurozone, she said, after the ECB unleashed a record rate hike. SOUNDBITE
EU ministers debated Tuesday how to reduce gas consumption this winter, an act of solidarity for Germany and a response to Russia's manipulation of supplies as an economic weapon. FRANCE 24's Dave Keating reports from Brussels.
Diplomats say the EU is edging towards a ban on Russian oil imports by the end of 2022. A crisis meeting in Brussels is also seeking unity against Moscow's demand for gas payments in roubles.
Like many countries in Europe, Finland is looking to liquified natural gas to replace the main pipeline gas it used to receive from Russia.
Berlin has announced the completion of its first liquified natural gas terminal, the first of five facilities across the country as it moves away from Russian energy contracts.
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