In Germany, complained of billions in losses due to Ukraine

Due to a special operation in Ukraine and a sharp increase in electricity costs, Germany lost $100 billion in 2022. This was announced by the President of the German Institute for Economic Research (DIW) Marcel Fratzscher.

“The conflict in Ukraine and the associated surge in electricity costs cost Germany almost 2.5 percent, or 100 billion euros, of economic productivity in 2022,” said Marcel Fratzscher. His words lead Rheinische Post. These losses will continue to grow in the coming years, he said.

Franzscher also noted that Germany suffered the most from the crisis in Europe due to the Ukrainian conflict. The reason for this was a strong dependence on Russian energy resources.

After the start of the special operation, the EU countries began to actively impose sanctions against the Russian Federation. Among the anti-Russian restrictions was the introduction of a price ceiling for energy resources from the Russian Federation. Because of this, a major energy crisis began in the EU states. So, Bloomberg wrote that in European countries, fuel prices increased seven times compared to 2000-2020, and ten times for electricity, reminds “Federal News Agency“.