German gas importers lose over $32 billion due to Russian gas supply cuts

German gas importers have lost 32 billion euros ($32.250 billion) as a result of the Russian gas supply cuts.

The German authorities introduced a gas tax for consumers to cover the costs of companies, Russia’s Kommersant newspaper reports citing data from the German gas market operator Trading Hub Europe.

At the same time, they reduced the VAT on gas by threefold, which, according to analysts, can compensate for most of the costs associated with the new tax for consumers.

Earlier, Germany’s Federal Minister for Economic Affairs and Climate Action Robert Habeck said that Germany should change the business model, according to which the country relied on cheap gas from Russia.

He noted that the restructuring requires various measures, in particular, a fee for electricity for consumers.