Ads Top

Germany: Habeck considers nationalizing companies


Berlin - Federal Economics Minister Robert Habeck (Greens) has announced an amendment to the Energy Security Act in view of an impending energy crisis. Accordingly, in the event of a crisis, extensive state controls up to and including the expropriation of companies in the energy sector are possible. This is reported by the news agencies dpa and Reuters. The planned amendment to the law is justified with the Ukraine war.

The measures are to come into force "if there is a concrete risk that without a trusteeship the company will not be able to fulfill its tasks serving the functioning of the community in the energy sector and there is a risk of the security of supply being impaired," says the paper. The orders should initially apply for six months and be extended if necessary.

Russian companies affected
Gazprom Germania, the German subsidiary of the Russian state-owned company Gazprom, was recently put under the trusteeship of the Federal Network Agency. Habeck justified this step with unclear legal relationships and a violation of reporting regulations. The Russian state-owned company Rosneft, which wants to take over a refinery near Schwedt, is also being targeted.

Habeck emphasized that the dependency on "Russian influence on the infrastructure" should be overcome. The Energy Security Act was passed in 1975 in response to the oil price shock. It authorizes the federal government to take measures in the event of an immediate threat to the energy supply through statutory ordinances.

Powered by Blogger.