German Dependency on Russian Gas

Abstract

At first glance, risk management appears to be a topic original to business economics. However, global crises such as the international financial and economic crisis, the COVID-19 pandemic or the Russian war of aggression on Ukraine as well as the resulting energy policy issues show that governmental risk management needs to be systematically integrated into the political decision-making process. This paper aims to sensitise decision-makers in politics and society to the need for state risk management and to identify instruments and institutions that, taken together, could be capable of reducing the current “risk blindness” in order to further develop the Federal Republic of Germany into a “robust state” from a risk management perspective.