Europe cannot end overnight its dependence on energy from Russia: German Chancellor

German Chancellor Olaf Scholz said on Wednesday that Europe will end its energy dependence on Russia but it will take time as it cannot be done overnight which would lead to recession. 

"Sanctions should not hurt European states harder than the Russian leadership," he said.

Scholz, who was addressing the German parliament, said that hundreds of thousands of jobs would be in danger and whole branches of industry would be on the brink.

"Yes, we will end this dependency - as soon as possible. But to do this from one day to the next would mean plunging our country and the whole of Europe into a recession," Scholz said.

During his speech, the German Chancellor  said that Germans would receive support amid the increase in energy prices.

He explained further that both renewable energy sources and energy efficiency are keys to reducing dependency on Russia in the long term.