Germany extended external management of Rosneft assets until September 10
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The German government has extended the external management of Rosneft’s German assets until September 10 (MOEX: ROSN) – Rosneft Deutschland GmbH (RDG) and Rosneft Refining & Marketing GmbH (RNRM), reported press service Ministry of Economics of the Federal Republic of Germany.
Thus, until this date, the German Federal Network Agency will retain control over Rosneft Deutschland and its shares in three oil refineries – PCK in Schwedt, MiRo in Karlsruhe and Bayernoil in Vohburg an der Donau. The press release notes that the German subsidiary of Rosneft accounts for about 12% of Germany’s oil refining capacity. Extending external control will make it possible to counter the threat to energy security, the Ministry of Economy noted.
The department noted that the German government decided to extend the external management of Rosneft’s assets after the Russian owners announced their intention to sell their stakes in RDG and RNRM during the extended period. The sale would be the safest and fastest way to secure areas that are supplied with fuel from the refineries of Rosneft’s German subsidiaries, the ministry said.
On February 7, the Handelsblatt newspaper reported that German authorities are considering the possibility of nationalizing Rosneft Deutschland. Law firm “Rosneft” confirmed information and said that lawyers would look for legal opportunities to prevent this. March 1, representative of the German Ministry of Economics statedthat Rosneft has begun the sale of its assets in Germany and plans to complete the transaction by September 2024.
Read more in the publication “Kommersant” “Rosneft is turning off Schwedt”.
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