(Finance) – The German government has decided to take control of Gazprom Germany. This is a temporary but necessary step.
It was announced by the Minister of Economy, Robert Habekstating that the decision was taken due to lack of clarity on the group’s compliance with German regulations, in particular on trade.
The German subsidiary of the Russian natural gas giant was thus temporarily placed under the direct administration of the German national energy authority. “The trusteeship it serves to protect public safety and to maintain security of supply“- Habek said – adding that it is an” absolutely necessary step “.
This protection will remain in effect at least until the end of September 2022.
Last Friday, April 1st, the owner Gazprom had announced the end of its participation in the German subsidiary. The Russian group did not provide details on the modalities or further explanations on its decision.