Photo: Ina FASSBENDER / AFP/FileSource: AFPShareholders of troubled German gas giant Uniper were to vote Monday on the company's nationalisation after it was pushed to the brink of collapse following Russia's invasion of Ukraine. After Moscow sent its forces into Ukraine in February, crucial Russian gas supplies to Germany were drastically slashed in suspected retaliation for Western sanctions. On Monday, the German government and Uniper, Germany's biggest gas importer, concluded a framework agreement related to the rescue package. With Russian supplies slashed, Uniper has been forced to pay high prices on the open market. Uniper is seeking damages at an international tribunal from Gazprom over what it claims is the Russian energy giant's failure to deliver contractually agreed gas supplies.

Source: The Star December 19, 2022 13:52 UTC