A trustee is now watching over the German Gazprom subsidiary.
(Photo: Reuters)
The Russian company Gazprom and its German subsidiary have always been a political issue – whether it was about the jersey advertising at Schalke 04, which the busy meat and sausage manufacturer Tönnies had engineered. Or the lucrative subsequent use for former Chancellor Gerhard Schröder.
Then there was the Climate and Environment Foundation of Prime Minister Manuela Schwesig from Nord Stream 2. The various shitstorms that arose because of the Russia connection were either ironed out with the typical Schröderian chutzpah or politicians ducked away. Gazprom, the political slob, always stayed.
Federal Economics Minister Robert Habeck has now placed the German branch under state supervision and appointed the Federal Network Agency as trustee. The thinking behind it: The important infrastructure, such as Germany’s largest gas storage facility, must not fall into the wrong hands in times of war.
That’s why Habeck has to play with the sleazy kids, but he doesn’t sing their songs.
One may question the details of his actions. Why, for example, his Green party friend and confidante, the new head of the Federal Network Agency Klaus Müller, was appointed as a trustee. The economist is certainly a clever and strategic thinker, but up to now he has had little to do with critical infrastructure.
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One can already put a question mark over whether Müller has to be a trustee in order to be able to impose conditions on Gazprom. For example, to guarantee the fill level of the gas storage tanks. But be that as it may, the step seemed necessary. Germany cannot afford insolvency, whether technical or disorderly, in these times.
>> Read here: Gazprom gives up its German subsidiary Gazprom Germania
Nevertheless, this construction may only apply for a transitional period. He is announced for half a year. But political experience shows that nothing lasts longer than a temporary solution, and the war also justifies such a drastic intervention in the market economy. The next step must be a private-sector solution.
The federal government will now look at the books and hopefully not experience a rude awakening. In any case, the incentive for Putin to indebted the Gazprom subsidiary with enormous sums was there.
Here, Habeck and Müller must ensure rapid transparency. Because they are dealing with taxpayers’ money. Again, they are trustees. Habeck has just earned a reputation for explaining his steps. He has to do the same in the case of Gazprom Germania.
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