On December 19, the European Commission approved Germany’s plan to recapitalize German natural gas trader Uniper, subject to future divestment, management pay, and acquisitions. The Federal Ministry of Finance of Germany addressed the issues of the acquisition since the energy company and the authority are not competitors and operate in different markets. According to the EC, the deal does not violate the EU Antitrust policy. The Ministry believes that the nationalization of Uniper is appropriate since “the EU economy is experiencing a serious disturbance” amid Russian gas supply cuts and a sharp increase in natural gas prices. Being the largest importer of Russian natural gas in Germany, Uniper needed large financial aid to avoid insolvency. Between January and September 2022, the energy company experienced a financial shock, losing €40 billion against the background of a narrowing natural gas supply from Russia. Due to this, the company’s daily losses stood at €100 million. As a result, the German authorities allocated about €10 billion to support Uniper, buying its shares and paying for loans. In September 2022, the German government decided that it was necessary to nationalize the company in order to save it. Notably, Uniper is among the most important companies for the country's energy security.
