Gazprom ceases participation in Gazprom Germania GmbH, all its assets

The Gazprom Group has ceased participation in its German subsidiary Gazprom Germania GmbH and all of its assets, Report informs referring to Kommersant.

Earlier, the German newspaper Handelsblatt reported that the German Ministry of Economy was considering nationalizing German subsidiaries owned by Gazprom and Rosneft in the event of a cessation of energy supplies from Russia.

“On March 31, the Gazprom group terminated its participation in the German company Gazprom Germania GmbH and all its assets, including Gazprom Marketing & Trading Ltd,” reads the statement published on Gazprom’s Telegram channel.

In accordance with the decree of the president of Russia, from April 1, EU countries must open ruble accounts in Gazprombank in order to pay for Russian raw materials in rubles. Germany and France refused to comply with Russia’s demands.