Less than two months since Russia invaded Ukraine, a range of industries across Europe have issued stark warnings about supply chain shortages, production shutdowns, price hikes, and even corporate failure.
Fuel prices across the continent have already reached record highs, despite the European Union not yet reaching consensus on a ban of Russian crude oil. Germany gets 55 percent of its gas from Russia, the largest total by volume of any EU member state. Although supply is currently stable, the country is fearful many manufacturing businesses will go bust if the war—and sanctions—continue, especially if giants such as Thyssenkrupp, BASF, and Bayer slow down production or halt it altogether in certain operations.
