In an interview to German Sueddeutsche Zeitung German Chancellor Olaf Scholz said, Europe and Washington must think carefully and act prudently when considering sanctions against Russia for any aggression against Ukraine.
The Ukraine-Russia crisis pits Berlin’s main gas supplier with its biggest security allies.
Russia could potentially halt Nord Stream 2 gas to Germany is the West sanctions Russia in the event it invades Ukraine.
The risk of a potential gas crunch has exacerbated a gas supply in Europe that has caused energy prices to soar.
“Prudence dictates choosing measures that will have the greatest effect on those who violate the jointly agreed principles,” said Scholz. “At the same time, we have to consider the consequences this will have for us” while adding nobody should think there was a measure available without consequences for Germany.
“In the circle of allies, we agree on possible measures. It’s good. We have to be able to act in case of an emergency,” said Scholz.
The development has threatened “massive” sanctions while the U.S. Senate has unveiled a bill to potentially punish Russian officials, military leaders and banking institutions. “Such a guarantee can’t be given,” said Scholz.