Pipeline shutdown tests Germany

The flow of natural gas from Russia to Germany via a crucial undersea pipeline stopped Monday, as the link went offline for a 10-day scheduled maintenance period, testing Europe’s resolve to wean itself off abundant Russian fuel supplies.

Despite sanctions aimed at punishing Moscow for invading Ukraine, Germany still draws 30% of its natural gas from Russia, much of it used to power its economically important industrial sector.

Other European Union countries, including Austria, Italy and the Czech Republic, also receive gas via the Nord Stream 1 pipeline.

The pipeline’s majority owner, Russian energy giant Gazprom, cut the flow of gas by 60% last month, driving energy prices to record levels.

Mercedes-Benz sales drop 16%

Mercedes-Benz sold 16% fewer cars during the second quarter as COVID-related lockdowns and a prolonged shortage of semiconductors continued to weigh on production.

Deliveries in China, the world’s largest car market, declined 25%, while sales in Europe fell 10%, the Stuttgart-based automaker said in a statement Monday.

“We are making every effort to fulfill customer expectations, despite the current supply restrictions,” said Britta Seeger, the management board member responsible for marketing and sales.

From wire reports The auto industry is still feeling the pain of supply-chain disruptions and shortages of components such as semiconductors, particularly amid a broad transition to electric vehicles that are dependent on increasingly sophisticated software.

BMW said last week that its sales declined almost 20% in the second quarter.