Commodities

Scholz plans to negotiate with Canada to replace russian ban on raw materials

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During his visit to Canada, German Chancellor Olaf Scholz is planning to reach an agreement on replacing the Russian ban on raw materials.

In response to questions from journalists in Montreal, he said that Canada was rich in natural resources.

“So we are opening up new areas of cooperation,” Scholz told reporters. It is specified that during the working trip the Chancellor plans to sign an agreement on cooperation between Germany and Canada in the sphere of green hydrogen.

The parties also plan to discuss the issues of supply of minerals and liquefied natural gas from Canada to Germany. This should cause serious damage to Russian raw materials exports. 

Earlier, Robert Habek, Minister of Economic Affairs and Climate Protection of Germany, said that he expected further reduction of gas supplies to Germany by Russia.

In July, Bloomberg agency reported that Germany is considering the possibility of signing agreements with Shell and a number of other companies on the supply of liquefied natural gas to replace the Russian fuel.

Previously, we reported on what will happen to oil prices in the near future.

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