EU approves nationalization of former Gazprom subsidiary in Germany and largest importer of Russian gas 

This is reported by DW.

It is noted that the European Commission has approved the nationalization of energy companies Uniper and Sefe (formerly Gazprom Germania) by Germany. The European Commission stated that neither move contradicts EU antimonopoly legislation.

It is known that the energy giant Uniper, which was the largest importer of Russian gas in Germany, faced financial difficulties after Russia stopped supplying gas to German territory. This forced the company to buy gas in other countries at much higher prices.

Uniper supplies gas to more than 100 German municipalities and several large companies and expressed concern that the power cut could jeopardize the economic viability of its customers.

Earlier, German Economy Minister Robert Habeck announced that the government plans to become the majority shareholder of Uniper, which until now belonged to the Finnish company Fortum.

This should save it from bankruptcy, which could ultimately jeopardize gas supplies in Germany. Berlin must buy back all of Fortum's shares, making the German government the owner of 98.5% of Uniper.

Germany also wants to increase Uniper's capital by investing 8 billion euros and raise another 25 billion euros by issuing more shares after the takeover. The European Commission may announce the terms of state aid at a later stage.