Sweden to offer $23 billion in liquidity guarantees to energy companies

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STOCKHOLM — Sweden is aiming to offer 250 billion Swedish kronor ($23.23 billion) in liquidity guarantees to energy companies that would last until March next year to help avert a financial crisis, the Finance Minister Mikael Damberg.

Without the government guarantee, power producers could have gone into “technical bankruptcy” on Monday, Damberg said, two days after Russia’s Gazprom shut down the Nord Stream 1 gas pipeline, deepening Europe’s energy crisis. ($1 = 10.7633 Swedish crowns) (Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)


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