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“I’ll be the first one who will fight for a further strong EU sanction package, but strong sanctions means it must hurt and harm Russia and Putin more than it does our economy,” Habeck said in a phone interview late Wednesday. “Therefore, I ask for understanding that we have to take this turbine excuse away from Putin.”
Germany is facing the prospect of rationing energy in the coming months, which could hit businesses and consumers and drag Europe’s largest economy into recession. Officials have warned that Russia could shut Nord Stream long term after the two-week maintenance period on Russia’s biggest gas link to Europe. Flows were already slashed by 60% in June over the turbine issue, hampering Germany’s efforts to store sufficient supplies for the winter.
“We need capacities in Nord Stream 1 to fill up our storage,” said Habeck. “Filled storage capacities in Germany are not only important for the German market, but as well for the European market and for the security of supply in Europe.”
The supply squeeze has unsettled gas markets. Europe’s benchmark futures, which have doubled in value over the past month, on Thursday were headed for the longest stretch of
