The economist did not rule out the destruction of the German economy due to the abandonment of Russian gas

If the European Union (EU) really decides to completely and irrevocably abandon Russian gas, this will lead to serious risks both for energy security and for the structure of the German economy. Igbal Guliyev, Deputy Director of the MGIMO International Institute of Energy Policy and Diplomacy, Doctor of Economics, told Izvestia on June 19.

Earlier, the head of the German Council for Constitution and Sovereignty, Ralf Niemeyer, said that the German economy, based on small and medium-sized businesses, would be in danger of destruction if the EU decides to permanently stop importing Russian gas.

"The statements that were made on the sidelines of the St. Petersburg Economic Forum raise a really important and sensitive issue — the fundamental stability of the German economy in the context of the ongoing energy gap with the Russian Federation," Guliyev said.

He recalled that Germany had been building its industrial and energy model for many years, relying on affordable Russian energy resources.

"This was especially true for small and medium—sized businesses, which are the backbone of the country's economy," the specialist emphasized.

After the outbreak of the 2022 crisis, Germany took steps to reduce its dependence on Russian gas, but neither Germany nor other EU countries managed to completely abandon it.

"If the EU really decides to completely and irreversibly abandon Russian gas, this will create systemic risks both for energy security and for the very model of the German economy," the economist warned.

According to him, energy-intensive industries and export-oriented enterprises will be the most vulnerable.

"The concern cannot be considered exaggerated. This is a signal of the need for a pragmatic approach in Europe's energy policy and the search for a balance between political ambitions and economic realities," Guliyev concluded.

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