BERLIN, July 3. /TASS/. Germany will have to pay a high price for anti-Russian sanctions and substitution of Russian natural gas by expanding liquefied natural gas (LNG) intake facilities will cost 1 trillion euro, German economist and stock markets specialist Jens Eckhardt said in an interview published in Handelsblatt newspaper.
"My opinion concerning the political conflict [with Russia]: we inflict huge damages to ourselves in Germany and Europe by introducing sanctions against Russia," the expert said. Germany significantly depends on traditional branches of industry like the automotive industry against the shortage in investments, Eckhardt said.
"We will not be able to substitute cheap Russian gas during four next years at all. Expansion of LNG intake capacity, according to certain estimates, will cost 1 trillion euro for us," the expert noted. The so-called ‘green revolution’ will make production more expensive, Eckhardt said. "Germany as the manufacturing site will become more expensive and hence less competitive," he added.