July 7, 2022

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Germany ‘Putin-izes’ Putin’s Gas – WSJ

1 min read

Russian President Vladimir Putin has made an art of inserting the state into his country’s energy economy, and now Germany is showing two can play at that game. Berlin’s effective seizure of a Russian energy company is a belated step toward greater energy independence from Russia.

The German government late Monday handed management control of Gazprom Germania to a trusteeship managed by the Federal Network Agency, a government body that oversees power and telecom infrastructure. This local unit of the Russian energy giant will remain under Gazprom’s ownership but Berlin’s management at least until September, while the government is expected to seek a private buyer. A debate is also underway over whether to expropriate other German subsidiaries of Russian oil and gas companies.

2022-04-05 18:39:00

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