Europe is not ready for a ban on gas supplies from Russia

The head of OMV, Alfred Stern, said that Europe is not ready for a ban on gas supplies from Russia, the cessation of supplies would affect industry and the economy

 “I don’t think that today we are ready for an embargo. Unless we are ready to accept the consequences. Because one thing needs to be clearly understood: our gas supply is provided not by our own production in Europe, but by supplies from Russia. We have created a task force on gas to check how much we can contribute to supplies,” Stern said.

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The head of OMV says that cutting off supplies would mean massive consequences for industry and the economy.

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“Of course, there is an energy management law that will provide households with heat. Households consume on average about 20% of gas per year, about 35% we need for energy production and about 40% for industry. is that we want to maintain our economic activity. And this will no longer be possible in full, “Stern said.