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Germany investigates Russian RWE deal

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Germany investigates Russian RWE deal

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Amid rising concern in the EU over energy security, the German government has launched an investigation into the planned 5.1 billion euro sale of oil and gas assets by energy group RWE to a Russian investment company, LetterOne Group.

Under the deal announced in March, RWE is planning to sell off RWE Dea, a business with activities in 14 countries.

If the Berlin government blocks the planned transaction, it would be the biggest intervention by a western government in a Russia-related business deal since the beginning of the Ukraine crisis and would signal Germany’s willingness to put pressure on Moscow.