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Germany announces $65bn plan to combat rising energy prices

2022-09-05 10:32:18       source:The Aljazeera

September 4, 2022

The German government has announced a $65bn plan to help people and businesses cope with soaring prices as several European nations introduce emergency measures to prepare for a long winter in the wake of disruption in Russian gas supplies to Europe following the Ukraine war.

German Chancellor Olaf Scholz on Sunday announced a series of measures in light of expectations that energy costs would soar in the coming months. Energy prices have skyrocketed as Europe has been trying to wean itself off Russian energy following Moscow’s invasion of Ukraine in late February.

Two days ago, Moscow shut a main pipeline supplying gas to Europe indefinitely, forcing countries like Germany to seek alternative energy supplies elsewhere.

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