Germany’s Uniper has lost over $40bn because of anti-Russian sanctions

Net loss of the largest German energy company Uniper without Russian gas increased by 8.5 times and amounted to 40.374 billion euros for the nine months of 2022, according to an official release

“The IFRS net loss of around 40 billion euros contains approximately 10 billion euros of realised replacement costs and around 31 billion euros of expected future losses from the effects of the valuation of derivatives and provisions related to the reduction of Russian gas supplies as of 30 September 2022,” the company said.

Against the backdrop of reduced Russian gas supplies to Europe, Germany’s Uniper has become one of the main “casualty” energy giants, while Norway’s Equinor, which has replaced Gazprom as the EU’s main gas supplier, saw its net profits quadruple to $20.847bn in the first nine months of 2022.

Germany’s Uniper has lost over $40bn because of anti-Russian sanctions