Marcel Fratzscher, the head of the German Economic Research Institute, revealed that Germany’s losses due to the Ukraine conflict have exceeded 200 billion euros, solely from the surge in electricity prices following sanctions against Russia.
In an interview with Rheinische Post, Fratzscher stated, “Above all, the high costs of electric energy (due to the sanctions-led cessation of Russian gas) have slowed down Germany’s economic growth by 2.5 percentage points, amounting to 100 billion euros in 2022, and another 100 billion in 2023.”
He noted that these losses only account for the direct financial impact and warned of subsequent losses in other sectors.
Last week, German Chancellor Olaf Scholz announced that Berlin would provide Kyiv with a new military aid package worth 1.1 billion euros.
