First nine billion euros, then another four billion euros and now nationalization. State aid for the ailing energy company Uniper is reaching unprecedented dimensions. There is no doubt that the main blame for the misery does not lie with the company, but with the man in the Kremlin who uses natural gas as a political weapon. But Uniper should not be portrayed as a poor victim. Uniper boss Klaus-Dieter Maubach didn’t want to believe that Gazprom could turn off the tap until the day of the attack on Ukraine. The former Eon board has been accused of geopolitical blindness and violating a manager’s primary duty: always keeping an eye on the risks.
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