The German authorities intend to allocate up to 10 billion euros to rescue Gazprom Germania, Bloomberg reports.
According to Bloomberg, Gazprom Germania, a former subsidiary of Russia's Gazprom, will receive up to 10 billion euros in bailouts from German authorities.
"German authorities are preparing to provide billions of euros for the bailout of Gazprom's former unit," the agency wrote.
The former Gazprom unit is currently under the management of the German state regulator.
It is reported that KfW Group bank intends to allocate a loan of up to 10 billion euros for Gazprom Germania. Active negotiations are currently underway on this issue.
The German authorities hope to use Gazprom Germania to ensure reliable supplies after retaliatory sanctions from Russia.