On Tuesday 20 December, the European Commission approved a €6.3 billion German support package to recapitalise the energy company SEFE Securing Energy for Europe GmbH (‘SEFE GmbH’), previously known as Gazprom Germania GmbH.
The measure was authorised under Article 107(3)(b) of the Treaty on the Functioning of the EU, recognising that the EU economy is facing a serious disturbance.
Since Russia’s war of aggression against Ukraine, SEFE GmbH has suffered severe losses. On...