Germany announces €65bn package to curb soaring energy costs

In an effort to lessen the prospect of rising energy prices as Europe struggles with limited supplies in the wake of Russia’s invasion of Ukraine, Germany has unveiled a €65 billion (£56.2 billion) package of measures.

The package, which is substantially larger than the two before it, will include one-time payments to the most vulnerable people and tax benefits for companies that use a lot of energy. Energy prices have soared since the February invasion, and Europe is trying to wean itself off Russian energy.

Ukraine encouraged Europe to maintain its resolve. Russia is attempting to disrupt every European citizen’s ability to lead a normal life, according to President Volodymyr Zelensky. On Saturday, he stated in his nightly speech that Russia was preparing a “decisive energy attack on all Europeans” and that only cooperation among European nations would provide safety.

There are already hints of unhappiness, with demonstrators marching to the streets of Prague, the capital of the Czech Republic, on Sunday to demonstrate against rising energy prices and demand the lifting of sanctions against Russia. According to police, there were roughly 70,000 attendees, primarily from far-right and far-left organisations.

Meanwhile, several hundred demonstrators gathered in Lubmin, the Russian gas pipeline’s terminal in northeastern Germany.

They demanded that Nord Stream 2, a new pipeline that was set to be put into operation but was stopped by the German government during the invasion, be put into service.

Russia announced two days ago that it would permanently halt gas deliveries to Germany via the Nord Stream 1 pipeline, which is currently in use.

The stand-off with Russia has forced countries like Germany to find supplies elsewhere, and its stores have increased from less than half full in June to 84% full today.

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