Germany to Bail Out Utility Hit Hard by Russian Gas Shortfall

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Germany will take a 30% stake in Uniper SE and supply a bailout deal after the ailing utility firm was hit arduous by dwindling provides of Russian gasoline and rising power costs.

Uniper, Germany’s largest importer of Russian gasoline and one in every of Europe’s largest utilities, has hemorrhaged money every day because it has been pressured to purchase provides at a lot larger costs from various sources after Russia diminished deliveries in June.

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