Time is running out for Russia, German economy minister says

Germany must work harder to reduce its energy dependence on Russia but western sanctions in response to Moscow's invasion of Ukraine are still taking a heavy toll on the Russian war machine, German Economy Minister Robert Habeck said on Thursday.

"The Russian economy is collapsing," Habeck told lawmakers, adding that exports to Russia from Germany had dropped by 60% in March with an even sharper fall expected in April.

"Putin is still getting money but ... time is not working for Russia, it is working against Russia," the minister said.