Germany takes over Uniper for $8 billion amid Europe's energy crisis

Germany also took control of a Russian-owned oil refinery, which supplies 90% of capital's fuel, putting a Rosneft unit under the trusteeship of industry regulator and taking over Schwedt plant

Uniper germany

Uniper germany

Kirsti Knolle & Anne Kauranen | Reuters Berlin/Helsinki
Germany has agreed to nationalise Uniper, raising the bill to rescue the gas importer to 29 billion euros ($28.7 billion) amid an escalating energy crisis that shows just how much Europe's top economy has relied on Russian fuel. The deal brings the total cash pumped into Germany's three biggest importers of Russian gas, also including EnBW's VNG division and former Gazprom unit Sefe, to at least $39.64 billion. 

Nationalising Germany's largest importer of Russian gas is the second move in a week by the government to take control of an energy business and is part of a wider European response to

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First Published: Sep 21 2022 | 11:32 PM IST

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