Germany announced Monday that it is about to nationalize a former branch of the Russian energy giant Gazprom, deeming the move necessary in light of the company's importance to the country's energy supply.
Formerly Gazprom Germania, the European Energy Insurance Corporation, better known by its acronym SEVI, is an operating network that indirectly controls the largest gas storage facility in the town of Rieden in northwestern Germany.
On the other hand, European Union (EU) foreign policy chief Josep Borrell confirmed last week that Europe had succeeded in reducing its dependence on "Russian energy."
Borrell said in exclusive statements to "Sky News" that Europe has reduced its need for Russian energy from 40 percent to 8 percent, but some countries, such as Hungary, are still highly dependent on Russia and have only one transmission line coming from Russia.
Follow the latest news on Google News
