German chancellor, Olaf Scholz, has announced a €65 billion package of initiatives to combat the possibility of rising energy prices in the coming months.
The package, which is significantly larger than the previous two, will include one-time payments to the most vulnerable people as well as tax breaks for energy-intensive businesses.
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Energy prices have soared since the February invasion, and Europe is trying to wean itself off Russian energy.
Countries across Europe are considering similar measures.
However, due to the standoff with Russia, nations such as Germany have been forced to find supplies elsewhere, and as a result, their stores have increased from less than half full in June to 84% full today.
The most recent actions come as Ukrainian President Volodymyr Zelensky claims that Russia is attempting to sabotage every European citizen’s ability to live a normal life.
Germany would survive the winter, Mr. Scholz assured reporters in his nightly address on Saturday, adding that Russia was no longer a trustworthy energy partner.
The latest package brings the total spent on energy crisis relief to nearly €100 billion, compared to about €300 billion spent on interventions to keep the German economy afloat during the Covid-19 pandemic.
