Sweden announces emergency guarantees for energy companies

Sweden has said it would provide several hundred billion dollars in liquidity guarantees to Nordic and Baltic energy companies to avert a financial crisis sparked by Russia’s Gazprom shutting the Nord Stream 1 gas pipeline.

Prime Minister Magdalena Andersson warned that Sweden was facing the prospect of a “war winter” because of Europe’s energy crunch, and said the exact details of the guarantees remained to be worked out.