Germany transfers Rosneft's subsidiaries to the management of the Federal Network Agency
The German government transfers two Rosneft subsidiaries, Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH, to trust management for six months. Control will be given to the Federal Network Agency. This was announced by the German Ministry of Economics.
The ministry explained that they took this step to ensure the operation of three oil refineries (refineries) in Schwedt, Karlsruhe and Foburg an der Donau. Critical service providers and customers have refused to work with Rosneft, its subsidiaries in Germany and refineries with the company's participation, the agency said.
Control over the assets will be given to the Federal Grid Agency. The decision will come into force on September 16 after publication in the Federal newspaper. It is expected that it will be valid for six months, until February 2023.
“The legal basis for the order was Art. 17 of the Energy Security Law. According to it, a company operating a critical infrastructure in the energy sector can be transferred under management if there is a specific risk that without management the company will not be able to fulfill its tasks that ensure the functioning of the society in the energy sector, as well as at the risk of a violation of the security of supply. , - said in statement.
The agency notes that the share of Rosneft enterprises in Germany accounts for about 20% of the country's oil refining capacity. It is one of the largest oil refineries in the country.
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