German energy giant Uniper asks for bailout amid Ukraine war

KIFI

Published July 8, 2022 6:31 AM

By FRANK JORDANS
Associated Press

BERLIN (AP) — German Chancellor Olaf Scholz has pledged to help troubled energy giant Uniper after it asked the government for a bailout to cope with surging prices for natural gas due to the war in Ukraine. Uniper said the “stabilization measures” it is seeking were “aimed at ceasing the current accumulation of substantial losses, covering Uniper’s liquidity needs and protecting Uniper’s investment-grade credit rating.” Scholz assured the company — Germany’s biggest importer of Russian gas — of the government’s support. Economy Minister Robert Habeck said Friday that the next steps were still being discussed. Germany activated the second phase of its three-stage emergency plan for gas supplies last month.

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