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Free AccessScholz Delivers Summer Presser; Energy, China, Russia Gas Discussed
Wires carrying comments from German Chancellor Olaf Scholz delivering summer presser on a number of subjects.
- Regarding Sino-German relations, Scholz states that he believes 'the German economy has taken the long-term decision to diversify its supply chains'. Says that the goal for the German economy is to gain "independence in key aspects of values chains and raw materials". Adds that Germany needs to be careful they, "Don't put all eggs in one basket".
- Says that no date has yet been set on Scholz visiting China, adding that "This is something we talk about but it's not firmed up yet"..
- On energy and the Nord Stream I pipeline, Scholz states that the turbine sent to Canada for maintenance is ready to go and just needs to be imported by Russia.
- With prospect of an energy price and supply crunch in the winter Scholz states that 'I do not think we will see unrest in this country'. Says that "Everything will be done to ensure that the citizens get through this difficult time".
- On the proposed oil price cap for Russia, Scholz states that intensive talks are taking place but it could only function on a global level, not just the G7.
- On EU solidarity: 'The unity of the EU is better than what has been said in past years. We have responded to Russian aggression in the EU with great solidarity.'
- On opposition to ban on visas for Russian citizens: "This is Putin's war. And therefore I have a hard time with this thought ... We have agreed on very wide-ranging sanctions that affect many particular people, oligarchs and supporters."
- On whether mistakes were made in German energy policy: "It is very clear to me that in the decisions of recent years and decades [that] we should have made the decisions we have now made earlier."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.