Uniper, Europe’s largest importer of Russian gas, 78pc-owned by Finland’s state-backed nuclear supplier Fortum
In obsessing about how Moscow can be brought to its knees with repeated rounds of sanctions, European leaders have failed to wake up to the severe damage that the Kremlin can inflict on its enemies by weaponising its vast oil and gas reserves.
Uniper, Europe’s largest importer of Russian gas admitting at the end of last week that it could be bankrupt “within days”
Ultimately, nationalisation beckons with a rescue package of around €10bn touted.
Uniper will be a fascinating test case of continental unity as a row breaks out about who should pick up the tab.
The company is 78pc-owned by Finland’s state-backed nuclear supplier Fortum, so predictably Germany believes that the Finnish state should shoulder some of the costs.
Ben Marlow The Telegraph's Chief City Commentator 19 juli 2022
Nord Stream 1 supplies 58 per cent of Germany’s annual gas needs.
The government has just passed a law that allows it to bail out firms hit by the energy shock; the gas importer Uniper has already raised its hand.
Consumer gas prices might triple.
Constanze Stelzenmüller FT 17 July 2022
https://www.ft.com/content/3458db6f-66f2-48ee-b344-0d1930204b07
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