Dmitriev: German Industry Hurt by Russian Energy Break

Kirill Dmitriev, Russia's special presidential representative for investment and economic cooperation, has said that German industry is losing competitiveness as a result of the shift away from Russian energy.

Dmitriev, who also heads the Russian Direct Investment Fund, wrote on X that German industry has become uncompetitive and is being undermined by higher energy costs, which he said are running 30%–40% above previous levels following the severance of ties with Russian energy suppliers.

His comments came in response to remarks by President Vladimir Putin about the Nord Stream pipeline and Europe's rejection of Russian energy. Putin had been asked by journalists whether the construction of Nord Stream had been harmful to Germany and whether the country was better off after being cut off from Russian energy supplies.

(tass, lud)