The Moscow Times: Germany Okays RWE Oil and Gas Sale to Russian Investor Despite Sanctions

Germany's economy ministry will approve the sale of utility RWE's oil and gas unit DEA to a Russian investor despite tensions over the Ukraine crisis, two people familiar with the matter said.

The economy ministry said in June it was investigating whether to block the 5.1 billion euro ($6.9 billion) sale of the DEA unit to the Letter One group of investors led by Russian tycoon Mikhail Fridman, which was announced in March.

Representatives of the ministry, RWE and the Letter One consortium declined to comment.

Europe and the U.S. have imposed economic sanctions against Russia for its annexation of Ukraine's Crimea region and its backing of pro-Russian separatists, who are fighting against government forces in eastern Ukraine. Russia, in turn, has slapped bans on Western food imports.
MORE