Dry Fountains, Cold Pools, Less Beer? Germans Tiptoe Up the Path to Energy Savings
“If Putin gets the impression that he can really hurt the economy of the biggest European countries, he won’t hesitate to cut off gas supply,” he said. “If it’s not hurting too much, he’ll choose taking the money over inflicting the pain.”

While not binding, for now, the E.U. consumption targets have sent a clear signal not only of European resolve to stand up to Mr. Putin, but also real concern that European economies are at risk, especially if Germany, the continent’s economic powerhouse, takes a hit.

The Kremlin-controlled Gazprom underlined the threat this week when it reduced flows through Nord Stream 1 into Germany to just 20 percent, citing, unconvincingly for many, problems with its German-made turbines.

Roughly half of all homes in Germany are heated with gas, while a third of the country’s gas is used by industry. If the coming winter is particularly cold, a cutoff would be brutal.