Germany

Germany, despite a low overall risk score, is experiencing a severe energy crisis due to its 95% oil import dependency and moderate Hormuz exposure, pushing gasoline prices to $2.12/L. The nation's resilience is challenged by gas storage levels at only 42% and ongoing industry curtailments, indicating significant economic impacts. While 90 days of oil reserves provide some buffer, the moderate food risk and a 58% increase in fertilizer costs add to broader economic concerns. The outlook for coming weeks involves continued industrial adjustments and a push for energy conservation measures to manage the prolonged crisis.