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Germany may nationalize Rosneft's, Gazprom's subsidiaries

Russian companies in Germany could provoke massive power outages.

Germany may nationalize Rosneft's, Gazprom's subsidiaries

Photo: EPA/UPG

The German government is studying the option of nationalizing Gazprom and Rosneft's subsidiaries in the country.

This was reported by RBK-Ukraina with reference to an article in the German newspaper Handelsblatt.

It is noted that the possible shortage of energy has forced the German government to seek new ideas. Therefore, the Ministry of Finance is currently working on several options, including nationalizing the subsidiaries of Russian state-owned companies.

The officials led by Chancellor Olaf Scholz are concerned about the stability of the energy sector. The publication notes that Russian companies in Germany, which are of systemic importance, can provoke massive power outages.

Gazprom Germania operates extensive gas storage facilities, and Rosneft Deutschland is a critical player in the gasoline, diesel, and kerosene markets. As a result, both companies are currently indispensable in the German energy market.

The other day Gazprom's German offices were searched as part of an investigation into Russia's influence on the energy crisis in Europe. Investigations took place in the offices of Gazprom Germania GmbH and Wingas GmbH, which are responsible for about 20% of gas supplies on the German market.

The European Union is investigating the impact of Gazprom on the energy crisis in Europe in the winter of 2021-22. This is because the Russian monopoly limited additional gas supplies at a time when Europe's natural gas reserves had fallen to their lowest level in ten years.

The investigation revealed Russian pressure on European politicians to approve the Nord Stream-2 gas pipeline launch.

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