Berlin has curbed spending, having limited some funds for businesses that were already struggling with higher energy costs German family-led companies, traditionally seen as the backbone of the country’s economy, have found themselves on the verge of bankruptcy, Bloomberg reported on Saturday, citing business figures and industry analysts on the ground.

The country’s crude export revenues more than doubled last month, despite sanctions The price cap on Russian oil introduced by the G7 and EU late last year in an effort to curtail Moscow’s energy revenues has been proving increasingly ineffective, the Wall Street Journal reported on Sunday.

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