Germany nationalizes Uniper as energy crisis with Russia deepens

by Kirsti Knolle and Essi Lehto BERLIN/Helsinki (Reuters) – An earlier multi-billion euro bailout failed to keep the gas importer afloat After Germany nationalized Uniper on Wednesday, Russian President Vladimir Putin announced a partial military mobilization, pushing up oil prices. Berlin agreed to buy Finland’s Fortum’s remaining stake in the German gas importer to ensure its operations and keep its business running, It’s the latest move to keep lights on and heaters running in Germany this winter. European gas and electricity prices soar, Russia cuts fuel exports in retaliation for Western sanctions over its invasion of Ukraine, leaving consumers on high energy bills and European utilities are struggling with a liquidity crunch. “The state will … do everything possible to keep companies stable in the market at all times,” German Economy Minister Robert Habeck said, announcing Uniper’s initiative and other measures to help Germany avoid energy rationing this winter. As the price of natural gas in Europe soars, 200 Crude oil in Shares rose more than 2 percent on Wednesday after Putin announced a partial military mobilization, an escalation of the war in Ukraine and sparked fears of tighter global energy supplies.