Business | On the offensive

Germany’s government seizes Russian energy assets

What will it do with them?

SCHWEDT, GERMANY - JUNE 29: People, including workers from the nearby PCK oil refinery, gather to demand an end to the current, planned German embargo against the import of Russian oil on June 29, 2022 in Schwedt, Germany. Schwedt relies heavily on the jobs at the PCK refinery, and many worry for their economic future since the refinery receives its crude oil exclusively from Russia via the "Friendship" ("Druzhba") pipeline. Germany plans to end its imports of Russian oil within the near future due to Russia's ongoing war in Ukraine and is also seeking to possibly nationalize the refinery, which is currently majority-owned by Russian energy company Rosneft. (Photo by Omer Messinger/Getty Images)
|SCHWEDT

After a hot and dry summer, the rain and chill in September brought some relief to parched Germans—but also a reminder of the looming winter. On September 16th Klaus Müller, boss of the Bundesnetzagentur (bna), Germany’s energy regulator, admitted that if it gets very cold “we will have a problem”. He could not rule out the rationing of natural gas, which Germany’s biggest supplier, Russia, has withheld as part of its war in Ukraine.

This article appeared in the Business section of the print edition under the headline “On the offensive”

Should Europe worry?

From the September 24th 2022 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Business

Protesters in favour of TikTok stand outside the United States Capitol.

TikTok’s time is up. Can Donald Trump save it?

The imperilled app hopes for help from an old foe

A tattooed man punches a large head, with motion lines and stars showing impact. He wears orange shorts.

The UFC, Dana White and the rise of bloodsport entertainment

There is more to the mixed-martial-arts impresario than his friendship with Donald Trump


A billboard welcoming the American electric car maker Tesla, in Monterrey, Mexico

Will Elon Musk scrap his plan to invest in a gigafactory in Mexico?

Donald Trump’s return to the White House may have changed Tesla’s plans


Germany is going nuts for Dubai chocolate

Will the hype last?

The year ahead: a message from the CEO

From the desk of Stew Pidd

One of the biggest energy IPOs in a decade could be around the corner

Venture Global, a large American gas exporter, is going public