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Leading article

The economic storm ahead is losing some of its power

29 October 2022

9:00 AM

29 October 2022

9:00 AM

When Russia invaded Ukraine in February, German protesters lined the streets holding placards saying ‘Better a cold shower than Putin’s gas’. Their resolve was soon to be tested: energy costs surged and Berlin’s longstanding policy of relying on Russian gas started to cost the country dear. Germany set itself the hugely ambitious target of having its gas stores 95 per cent full by November, a policy that remained even after Moscow turned off the Nord Stream pipeline.

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