FX.co ★ Scholz proud of Germany moving away from Russian gas

According to German Prime Minister Olaf Scholz, the replacement of gas from Russia with alternative energy sources is considered a source of pride. Scholz said that Germany managed to replace Russian gas with supplies from other countries. The German chancellor was proud that the country lost cheap Russian gas that covered about 50% of all imported energy. Meanwhile, the authorities had to spend more money on defense and completely change the structure of energy consumption. At the same time, the cessation of gas supplies to Germany occurred on the initiative of Moscow, Scholz said. Currently, the country sees crippling gas supplies as the Nord Stream pipeline was destroyed in 2022. Notably, it was the main route for natural gas transition. In addition, Germany has become dependent on Russian fertilizer supplies, the volume of which has increased by more than 300%. Gas and electricity now account for 80-90% of the cost of fertilizer in Germany, economists estimate. "That means that, ultimately, the imported fertilizers are nothing more than cheap Russian natural gas at the next value-added stage," analysts point out.