Berlin Says Won't Allow National Energy Company Uniper To Go Bankrupt
Muhammad Irfan Published July 08, 2022 | 11:06 PM
The German government will not allow the bankruptcy of energy company Uniper, German Vice Chancellor and Economy Minister Robert Habeck said on Friday, adding that Berlin is considering appropriate support measures
BERLIN (UrduPoint News / Sputnik - 08th July, 2022) The German government will not allow the bankruptcy of energy company Uniper, German Vice Chancellor and Economy Minister Robert Habeck said on Friday, adding that Berlin is considering appropriate support measures.
On Friday, Uniper requested state support from the German government to stabilize its business amid the gas crisis. This happened immediately after the German Bundestag adopted amendments to the law on energy security, which provide for the possibility of measures to stabilize the balance sheet of companies in critical energy infrastructure.
"The government is actively working on stabilization measures (for Uniper). We are in close contact with all stakeholders. Negotiations are underway on specific forms of support, and then a decision will be made. From a political point of view, one thing is clear we will not allow a backbone enterprise to go bankrupt," Habeck said.
Earlier in the day, the head of Uniper, Klaus-Dieter Maubach, accused Russia's Gazprom of contract violations due to cuts in supplies, but noted that the company does not yet consider taking legal action in the hope the deliveries will be restored in full soon.
Russian energy giant Gazprom had to cut down its gas deliveries through the Nord Stream 1 pipeline in mid-June after Germany's Siemens delayed the return of a gas turbine sent to Canada for maintenance. Ottawa initially refused to send the turbine back citing sanctions against Russia. Habeck has since urged Canada to hand over the turbine to Germany instead of Russia to avoid legal issues. On Friday, the media reported, citing sources, that the two countries managed to reach a deal.
Related Topics
Recent Stories
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
Mirpur Police arrest 68 suspects of food outlet attack
Ecuador mayor killed ahead of anti-crime referendum: police
Flooding on Chitral-Peshawar Highway strands travelers
Bilawal Bhutto demands govt to hold tripartite dialogue to curb terrorism
Punjab ombudsman facilitates over 1.36 crore payment to victims
Croatia top court bars president from becoming next PM
Leghari seeks KP Govt’s cooperation in anti-power theft campaign
Sehwan Development Authority's staff protests against non-payment of salaries
More Stories From World
-
Turkey's Freedom Flotilla ready to set sail for Gaza
15 minutes ago -
French teen dies from heart failure after knife attack near school
15 minutes ago -
Iranians appear unfazed by Isfahan blasts
25 minutes ago -
Ecuador mayor killed ahead of anti-crime referendum: police
44 minutes ago -
Croatia top court bars president from becoming next PM
43 minutes ago -
Lacking storm drains, Dubai sees persistent flooding
1 hour ago
-
West Bank villagers vigilant but vulnerable after settler attacks
1 hour ago -
Calls for calm after reported Israeli strike on Iran
1 hour ago -
Iran blasts rattle global markets
2 hours ago -
Photography is 'mirror on society': Sebastiao Salgado
1 hour ago -
Zelensky says NATO must choose 'whether we indeed are allies'
1 hour ago -
Kenya mourns defence chief killed in helicopter crash
1 hour ago