Europe Burns Cash to Help Businesses in Deepening Energy Crisis

BERLIN/LONDON—Germany nationalized gas importer Uniper on Wednesday and Britain said it would halve energy bills for businesses in response to a deepening energy crisis that has exposed Europe’s reliance on Russian fuel.
Russian President Vladimir Putin added to the upward pressure on energy prices by announcing a partial military mobilization, in the biggest escalation of the Ukraine war since Moscow’s Feb. 24 invasion.
European governments had already earmarked almost 500 billion euros ($496 billion) in the last year to shield citizens and companies from soaring gas and power prices, according to research by think-tank Bruegel.
Uniper has been among the biggest corporate casualties, with Germany earmarking an additional 8 billion euros on Wednesday in the latest step in a 29 billion euro bailout….

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