Irish gas prices will rise as Germany blocks Russian gas pipeline

'Sanctions will have impacts, we would much prefer not to be in this situation. Coming off the back of the pandemic, this is the last thing the European continent needs, or the world even,' Taoiseach says

German chancellor Olaf Scholz greets Taoiseach Micheál Martin as he arrives for talks at the Chancellery in Berlin on Tuesday. Picture: John MacDougall/AFP via Getty Images

Germany’s decision to block the Russian gas pipeline will have a negative impact on gas prices in Ireland, Taoiseach Micheál Martin has said.

Speaking to reporters in Berlin, Mr Martin said the decision to stop the Nord Stream 2 pipeline by German chancellor Olaf Schloz was “very significant” given the amount of money Germany has invested in it.