Economy, export, inflation
:
How the Ukraine conflict is shocking the German economy
Reading time: 6 mins
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When energy prices go up, prices go up elsewhere too – food, for example. VW not only sells cars in Russia – the group also produces locally. Pipes for the Nord Stream 2 gas pipeline, the approval of which has now been suspended (clockwise from left to right).
(Photo: dpa, imago (3))
Germany and Russia are closely intertwined economically, German companies export and build cars and refrigerators there. How is all this supposed to continue if there will soon be shooting? And is everything getting more expensive now?
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Elisabeth Dostert, Thomas Fromm, Alexander Hagelüken, Max Hägler, Claus Hulverscheidt, Benedikt Müller-Arnold, Sonja Salzburger and Markus Zydra
There were signs of escalation, and yet it seems as if German industry was caught off guard. Nowhere else on Tuesday could this be seen as clearly as on the website of the German Economic Committee on Eastern European Economic Relations. Many hours after Vladimir Putin recognized the self-proclaimed people’s republics of Donetsk and Luhansk in the east of the country as independent states, the lobby organization reported on its website that the anniversary year had got off to a “brilliant start”. The good news: Eastern trade is leaving the “corona crisis behind”. Wording: “New record in Eastern trade – half a trillion cracked”. Cracked half a trillion? That’s what it sounds like if Business as usual unintentionally funny.
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