FRANKFURT/DUESSELDORF—Uniper, the highest-profile corporate victim of Europe’s energy crisis so far, reported a 12.3 billion euro loss ($12.5 billion) due to Russian gas supply cuts, saying it had become a “pawn” in the energy standoff between the European Union and Moscow.
Germany’s largest importer of Russian gas needed a 15 billion euro government bailout last month after Russia drastically cut flows, forcing Uniper to buy gas elsewhere at much higher prices.
The bailout has laid bare Germany’s reliance on Russian gas, which accounted for around 55 percent of the total last year, and the costs of switching to alternative sources to keep on powering Europe’s top economy….