The Kremlin does not consider the sale of Gazprom’s shares in Wintershall and OMV to be a seizure of assets
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The decrees of Russian President Vladimir Putin, according to which the shares of gas companies – German Wintershall and Austrian OMV in joint ventures with Gazprom will be forcibly sold to new Russian owners, do not mean that Russia has begun the process of seizing the assets of investors from unfriendly countries, the presidential press secretary said Dmitry Peskov.
“There is no seizure,” he said in response to a question about whether this means that the Russian Federation has begun seizing assets. According to him, “those companies that leave the market, they either sell or transfer assets – it all depends on negotiations.” “But there was and is no process of seizure of assets,” Mr. Peskov concluded.
The day before, Vladimir Putin signed decrees on the creation of an LLC, to which all rights, assets and obligations of Gazprom’s joint ventures with Wintershall Dea and OMV, namely Severneftegazprom, Achimgaz and Achim Development, will be transferred. It is assumed that SOGAZ will become a co-owner of a stake in Severneftegazprom, and Gas Technologies LLC – in Achimgaz and Achim Development.
Read more about the forced sale of the gas business of Wintershall and OMV in Russia in the Kommersant article “On guard of fallowness”.
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