The former Gazprom Germania, a subsidiary of the Russian state-owned gas monopoly, is deemed essential to Germany’s energy security.
Tag: Nationalization of Industry
German Government Nationalizes Uniper in Move to Secure Energy Supply
The utility company, once Germany’s largest importer of Russian gas, has been squeezed since Moscow cut the flow of the fuel, leading to a partial bailout in July that is now a full takeover.
France Will Renationalize EDF
The state already has a majority stake in France’s main electricity and nuclear company. The move reflected President Emmanuel Macron’s desire to champion economic and energy sovereignty.
Hundreds of Planes Are Stranded in Russia. They May Never Be Recovered.
Western companies that own the planes face little prospect of getting them back, meaning billions of dollars in losses.
Venezuela’s Socialists Embrace Business, Making Partner of a ‘Parasite’
Decades of socialist-style control devastated the economy. Now, capitalism is back, helping keep the country afloat — and Nicolás Maduro in power. One deal was the cornerstone of that transformation.
To Survive, Venezuela’s Leader Gives Up Decades of Control Over Oil
Faced with a severe economic crisis, the country’s leader, Nicolás Maduro, is letting foreign firms take over daily operations of its oil fields. It’s a break with core tenets of his socialist revolution.