Germany's Manufacturing Sector Fears Consequences of Possible Russia Energy Sanctions

KREFELD, GERMANY - APRIL 21: A worker pours molten iron into a mould at the Siempelkamp Giesserei foundry on April 21, 2022 in Krefeld, Germany. The Siempelkamp foundry is one of many companies in Germany's manufacturing sector that would be acutely affected by a halt of Russian energy imports, especially natural gas. The company, which makes parts including for applications in the renewable energies sector, is one of the few in Europe that can cast pieces up to 300 tonnes. A company spokesman said that a disruption to Germany's natural gas supply would bring much of the foundry's manufacturing ability to a halt. In addition Siempelkamp is already facing multifold price increases for its raw materials, including scrap iron, nickel, aluminum and other metals, due to the current EU sanctions against Russia. The German government is currently wrestling with how it can reduce Germany's heavy dependence on Russian energy imports in the wake of Russia's military invasion of Ukraine. (Photo by Sascha Schuermann/Getty Images)