President Putin warns countries against nationalising Russian assets.

Moscow/Berlin: – Russian President Vladimir Putin issued a stern warning that countries with Russian assets, which speak the language of nationalising them, should remember that this is a double-edged sword. Germany has announced the nationalisation of GAZPROM Germania, a subsidiary of the leading Russian fuel company GAZPROM. Other countries from Europe also have given such indications regarding Russian banks and other enterprises. Russian President’s warning becomes significant against this background.

So far, the European Union has imposed significant sanctions against Russia in four stages. 870 leaders, officials, entrepreneurs, and 62 companies in Russia have been targeted. But there is no concurrence regarding the fuel sector. German Foreign Minister Annabelle Baerbock announced that some countries from the European Union could not overnight stop fuel imports from Russia. Whereas Hungary warned that it would not support any sanctions threatening its fuel security. Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy, confessed that till Hungary has the Veto Power, European Union cannot impose fuel-related sanctions against Russia.

Against this background, Germany’s nationalisation of a Russian company becomes a significant development. It was reported that GAZPROM Germania, the German subsidiary of GAZPROM, had been acquired by another Russian company. Following this report, the German commerce ministry announced the acquisition of GAZPROM Germania in swift action. Commerce Minister Robert Habeck declared that German fuel security is the government’s responsibility and this decision has been taken in that context. The German Minister warned that the Russian regime could not decide on infrastructural facilities in the German fuel sector.

Following Germany, even the United Kingdom has indicated the nationalisation of the GAZPROM subsidiary. Against this background, the Russian President has warned Western countries that they should prepare for the Russian retaliation. The Russian President also accused that there are major upheavals in the international fuel market given the sanctions imposed against Russia and the European countries are trying to blame them on Russia.