Germany gave itself the opportunity to gain control over the former „daughter” of Gazprom

The German cabinet passed a law allowing the government to acquire a stake in the group, formerly known as Gazprom Germania GmbH, writes Bloomberg.

The former Gazprom-owned group has been under the control of the German regulator since April, but the latest move bolsters the government’s grip on the energy crisis.

According to two German officials, the law allows the authorities to obtain shares in companies under management, against the will of its owner. Under current rules, investing capital in a managed company requires the consent of the owner. Under the new rules, the economy ministry could order investments to stabilize the company and ensure energy security, one official said.