Rainer Dulger told the Augsburger Allgemeine daily in an interview out on Friday that a gas embargo had to be averted as long as possible to protect the economy from a catastrophe.
"In the event of a gas embargo, no matter who imposes it, this country will be paralysed. It would lead to catastrophic consequences for companies, employers — and not least for the federal budget," he said.
Russia stopped pumping gas to Poland and Bulgaria on Wednesday after the two refused to pay for supplies in rubles. German economists fear that their country will be next after Finance Minister Christian Lindner rejected Russia's demand.
Dulger said that suspension of Russian gas imports would deal a heavy blow to the chemical and raw materials industries and affect most manufacturing sectors indirectly.
"That is why we must stall a gas embargo as long as possible. That is why it is so important for the West to act in a concerted manner. We must free ourselves from the dependence on Russia gas, just not abruptly", he added.
Dulger said Germans should get used to the idea that "the fat years are over for now" and that their incomes would shrink due to a perfect storm of the Ukrainian conflict, the pandemic, lockdowns in Chinese container ports and the green transition.