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Germany Gives Itself Option to Tighten Grip Over Ex-Gazprom Arm

  • German cabinet passes legislation to strengthen crisis tools
  • Gazprom Germania was an arm of Gazprom, now run by regulator

Germany’s cabinet has passed a law that enables the government to take a stake in the group formerly known as Gazprom Germania GmbH.

Gazprom Germania, once an arm of the Russian gas giant, has been run by Germany’s regulator since April but the latest move strengthens the government’s hand as it wrestles with an energy crisis caused by Moscow’s squeeze on gas flows. It’s part of a set of measures adopted Tuesday to help stabilize the fragile energy industry.