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Germany nationalizes German Gazprom

The German energy regulator will temporarily take control of Gazprom’s German subsidiary.

This was stated by Energy Minister Robert Habek after the Russian gas giant unexpectedly announced last week that it was pulling out of Gazprom Germany.

“The government is doing everything necessary to ensure the security of supplies to Germany, including not exposing Germany’s energy infrastructure to the arbitrary decisions of the Kremlin,” Habek said, adding that the Bundesnetzagentur would become Gazprom’s trustee. Germany “until September 30”.

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