Energy crisis: Are there supply alternatives to Russia?
On May 4, 2026, business lawyer Wolfgang Hummel spoke at the Eurasia Gesellschaft in Berlin-Mitte on the topic of EU sanctions against Russian oil and gas. The Iran war, after the Ukraine war, led to the global energy crisis. The Persian Gulf has failed as an energy supplier. Energy prices are rising rapidly, the energy security of Europe is massively endangered, at the same time the second largest energy superpower - Russia - is being sanctioned by the West. The transport infrastructure that has contributed to European energy security for 50 years is on hold.
Wolfgang Hummel criticized the fact that the EU simply does not register, that Russia is not at all isolated in the global world economy, that the West actually has no real alternatives to Russian energy sources, that other sources of supply are too expensive compared to the Russian ones. The EU is thus paying for its sanctions policy with its own loss of prosperity.
According to Wolfgang Hummel, Germany will not be able to stop the de-industrialization of the country without cheap energy imports from Russia. Insolvencies are increasing in this country, especially in the chemical industry. Large corporations are financially "saved" by the state, but only for a short time. Russian companies are placed under compulsory state administration, outside Europe confidence in the EU location is falling. . German politics and the media, which want to inflict a strategic defeat on the Russian economy, are behaving alarmingly out of touch with reality. The environmental problems of LNG deliveries, for example, are not taken into account at all.
The USA and Russia are both benefiting from the energy crisis as energy suppliers. The dependence of Europeans on the USA is increasing immeasurably. Wolfgang Hummel was appalled at how Germany and the EU are acting self-harming. Above all, Germany is sacrificing its economy for Ukraine, which is not formally an ally of the West at all.
Mr. Hummel believes that Europe will not be able to avoid cooperating with Russia and China. Without raw materials from these countries, Europe cannot exist for a long time. The Eastern policy of the 1960/70s was not a mistake.
The lecture provoked a lot of questions and comments. Some wondered how the economy bows to the political rulers, and how the population is afraid of resistance to politics. Very few want to take reputational risks for themselves.
Our speaker: Wolfgang J. Hummel
He is a commercial lawyer in Berlin and has over 30 years’ experience in German-Russian and German-Ukrainian economic and infrastructure projects. He successfully represented employees of the PCK oil refinery in Schwedt/Oder in a lawsuit against the Federal Ministry for Economic Affairs.