Germany-based chemicals maker BASF says it is taking some 7.3 billion euros ($7.9 billion) in write-downs related to the exit from Russia of its Wintershall Dea gas and oil subsidiary. It said that is expected to push it to a full-year net loss of nearly 1.38 billion euros, compared with a profit of more than 5.5 billion euros in 2021. The pipeline transported natural gas from Russia to Germany until the end of August. Russia hasn’t supplied any gas to Germany, one of the countries giving military and other help to Ukraine in the war, since then. Undersea explosions damaged Nord Stream 1 in September.
