Uniper Breaks Gazprom Ties With €13 Billion Damages Awarded [Financial Post (Toronto, Ontario, Canada)]
OMV AG BEARER SHS S/ADR (OMVKY)
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omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Uniper SE was awarded more than €13 billion ($14 billion) in damages for Russian gas volumes not supplied by Gazprom PJSC since mid-2022. Uniper was one of Gazprom's oldest European trading partners with a history dating back to the 1970s. An international arbitration ruling on June 7 allowed the German company to terminate its long-term Russian supply contracts, some of which ran until the middle of the next decade, according to a statement Wednesday. Article content Uniper was nationalized during Europe's energy crisis, in one of the largest corporate bailouts in German history. After Russia stopped supplying gas through the Nord Stream pipeline and fuel prices soared, the German utility was forced to pay in the hundreds of millions of euros every day for alternative supplies and was only able to pay these costs with state support. Although Ga
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