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Espreso Global Sanctions against Russia Germany to nationalize Gazprom subsidiary - Welt

Germany to nationalize Gazprom subsidiary - Welt

28 August, 2022 Sunday

22:05

Sanctions against Russia

The German government has secretly created a holding company to speed up the nationalization of Gazprom Germania

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This is reported by Welt.

Preparations for the nationalization of Gazprom's former subsidiary Gazprom Germania have advanced much further than previously known. The federal government secretly created a holding company to be able to quickly carry out the nationalization, the publication reported.

Currently, Gazprom Germania, which was renamed Securing Energy for Europe, is under the supervision of the Federal Grid Agency. The newly created holding has the same name - Securing Energy for Europe.

The Ministry of Economy confirmed the existence of such a company and explained that this is not something extraordinary in cases of corporate restructuring. However, more detailed information is currently not disclosed.

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