In an interview with ZDF, German Chancellor Olaf Scholz said the decision not to admit Ukraine and Georgia is the right one and is not on the agenda amid the current situation in Ukraine. 

“It was the right decision. There were very long negotiations in NATO on this issue back then," Scholz said on Thursday. “I also want to emphasize that even now it was not on the agenda, and it continues to be so.”

'West uses sanctions to pressure Russia'

Scholz said the West is using sanctions against Russia to pressure Moscow, claiming that at the same time, the way is open for a diplomatic solution to the ongoing situation in Ukraine.

"It is important that we do not give up, but to continuously continue implementing all the various measures that we have launched - on the one hand, with the sanctions that we are implementing to apply pressure, and on the other hand, we open space for diplomacy," Scholz told ZDF on Thursday.

Scholz said the decision to supply Ukraine with weapons was the right move. "We consider this move as a right one over the [Russian] 'attack' on Ukraine."

The Chancellor believes that the accession of Ukraine, Georgia, and Moldova to NATO are not on the agenda and the "military conflict in Ukraine must stop." 

Suspension of Nord Stream 2

Chancellor Scholz believes that the decision to suspend the Nord Stream 2 gas pipeline was "well-timed." 

He mentioned that Germany continues to purchase gas, coal, and oil from Russia, but has already started buying gas from alternative countries. 

The Minister of Economy, Robert Habeck, has mentioned that the launching of the Nord Stream 2 pipeline is impossible in the short-term and medium-term. 

He told ARD, "I don't see Nord Stream 2 launched in the short- and medium-term," saying that Berlin will be purchasing gas from other countries after the announcement of the special military operation in Donbass. 

Scholz announced the suspension of the certification of Nord Stream 2 just after Russia's recognition of Lugansk and Donetsk as independent republics.

A surge in oil, gas prices

After Western nations imposed additional sanctions on Russia for its military operation in Ukraine, including banning some institutions from using the SWIFT international payments system, crude oil rose and the ruble fell about 30% to a new record low on Monday.

After Russia's recognition of the republics of Donetsk and Lugansk in Donbass last week, oil prices soared near $100 per barrel.

Fears that oil supplies from the world's second-largest producer will be interrupted have increased as tensions have risen, pushing Brent crude LCOc1 futures up $4.21, or 4.3%, to $102.14. WTI oil CLc1 futures in the United States were up $4.58, or 5.0%, at $96.17 per barrel.

Read more: Why cutting Russia from SWIFT is bad for the west

Two days ago, on Wednesday, natural gas prices in Europe surpassed 1500$ per thousand cubic meters.

In Europe, gas prices increased 35%, as the Ukraine crisis escalated into a military confrontation just after Russian President Vladimir Putin announced the launch of a special military operation and Zelensky announced a state of martial law. 

While Russia supplies Europe with about 40% of its gas, the old continent is vulnerable to the consequences of the conflict, which they themselves - NATO members - have been participating in. 

While there were plans that Qatar would provide natural gas to Europe - even at the expense of already providing customers in Asia - the oil-rich producer does not have a surplus and could not fill in the supply gap.