DThe head of the Federal Chancellery and Federal Minister for Special Tasks Wolfgang Schmidt (SPD) has called on companies to invest in Ukraine. “We must also support Ukraine when the war is over,” Schmidt said at a technology conference long distance in Munich. State aid packages will not suffice for this. “It also requires private capital,” said Schmidt. Businesses should see Ukraine as an “investment opportunity”. The Ukrainian technology sector in particular offers highly qualified specialists.

Schmidt was considered the Chancellor’s closest confidant Olaf Scholz (SPD). Schmidt describes himself in DLD as a “guardian” of the federal government. The head chancellor is again using his appearances at technology conferences to explain and defend government policies. “We managed to get through this difficult period well,” said Schmidt.

In particular, he emphasized eliminating dependence on Russian gas: “We have solved the problem of energy security.” A few months ago, many believed that it would be impossible to reduce dependence on Russian gas from 55 percent to 0 percent or one LNG terminal to build in 10 months. Schmidt said he believed another five to six LNG terminals would be completed this year. In fact, a gas shortage for the winter seems increasingly unlikely, but it is also associated with moderately above average temperatures.

Termination of delivery “wouldn’t be possible”

Schmidt also defended the decision not to introduce a freeze on Russian gas supplies as early as spring 2022. “That’s impossible, the gas storage tanks are nearly empty.” A shipping stop would be good for PR, but not sustainable at that. A group of economists advocated this at the time. According to their calculations, the German economy will survive the shutdown of Russian gas supplies in March 2022.

Also the current financial and military support from Ukraine must be “sustainable,” says Schmidt. Among other things, Chancellor Scholz focused on convincing countries in Africa and South America that were still hesitant, such as Argentina, Senegal and India, to support Ukraine and not Russia. Ukraine should also turn to these countries to “oppose something against Russian propaganda.”