Germany Lost $106.7bln in 2022 Due to Ukraine War

By Staff, Agencies

Germany has lost billions of dollars as a result of the war in Ukraine and the anti-Russia sanctions.

The President of the German Institute for Economic Research [DIW Berlin] Marcel Fratzscher said that since the start of the war in Ukraine, Germany has lost over $106.7 billion.

In an interview, Fratzscher told the Rheinische Post that "the Ukraine war and the associated explosion in energy prices cost Germany almost 2.5 percent, or 100 billion euros in economic output in 2022," adding that costs will continue to accumulate in the coming years.

Germany, according to Fratzscher, has been more severely impacted by the economic crisis because it is "extremely dependent on exports and global supply chains."

Berlin also has a significant share of energy-intensive industry that depends on the increasing energy costs.

The leader of the hard-left parliamentary group in the German Bundestag, Dietmar Bartsch of Die Linke, criticized those who insisted that the Ukrainian conflict must end on the battlefield, as he argued that in doing so, they failed to see the big picture.

"Those who just claim that Ukraine must win do not understand the complexity of the situation," Bartsch told the Neue Osnabruecker Zeitung during Saturday's interview.

Bartsch's main argument was that "Russia will not be forced to its knees by weapon supplies" and that it was "unfortunate" that German Chancellor Olaf Scholz had quit his attempt to resolve the disagreement in a sensible way.

"We are even talking about fighter jets," which made Germany's involvement in the conflict "hardly about diplomacy," the leader noted.

"This is extremely dangerous," Bartsch continued and exclaimed, "Who says that the people of Ukraine want more weapons? Most Ukrainians want only for the war to end so that they could live in peace."

Bartsch then stated that all efforts must be directed toward reaching a ceasefire in Ukraine. In this regard, the leader also criticized NATO allies for having framed the supply of battle tanks to Ukraine as a game changer.