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    FT: RWE offers safeguards to ensure North Sea deal goes through

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RWE is seeking to insert safeguards into a €5.1bn contract to sell North Sea gasfields to Mikhail Fridman’s investment fund LetterOne that would ensure the assets remain operational in the event of further sanctions.

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FT: RWE offers safeguards to ensure North Sea deal goes through

RWE is seeking to insert safeguards into a €5.1bn contract to sell North Sea gasfields to a Russian billionaire that would ensure the assets remain operational in the event of further sanctions.

The move by the German energy group is aimed at reassuring the British government, which has blocked the deal following US and EU sanctions on Russia’s financial services, defence and energy sectors.

Peter Terium, RWE chief executive, said: “We have understood where the worries of the UK government are coming from and I think we will be able to offer a solution in which those worries are being taken care of.”  MORE

 

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