Government considers oil supply secured with escrow solution

Created: 09/16/2022Updated: 09/16/2022, 2:35 p.m

Federal Chancellor Olaf Scholz (M) takes part in the press conference on the package of measures alongside Robert Habeck (l) and Dietmar Woidke.

© Michael Kappeler/dpa

According to the federal government, the oil supply for north-eastern Germany via the PCK refinery in Schwedt is secured with the trusteeship of the majority owner - even in the event of a failure of Russian deliveries.

"Of course, we have long assumed that the delivery could suddenly fail for reasons related to the Russian war against Ukraine," said Chancellor Olaf Scholz (SPD) on Friday in Berlin.

Berlin - "That's why we are prepared." With the help of our own reserves, with reserves from the refinery and the conclusion of contracts with Poland, it is about "that we can then also ensure that the supply continues to be guaranteed if that happens".

Federal Minister of Economics Robert Habeck (Greens) also said: “The security of supply is guaranteed.” The precautions have been taken.

"The changes have been prepared and talks with the Polish side are well advanced." It was clear that Poland would not make a firm commitment as long as possible profits went to Russia via the two subsidiaries of the Russian state-owned company Rosneft.

The federal government had previously announced that it would bring the majority owners of the PCK refinery - Rosneft Germany and RN Refining & Marketing, both subsidiaries of the Russian state-owned company Rosneft - under state control.

The background is the oil embargo against Russia because of the Ukraine war, which is to take effect from January 2023.

At the EU level, Germany has committed itself to refraining from Russian pipeline oil.

PCK is supplied with Russian oil via the Druzhba pipeline.

According to the Federal Ministry of Economics, Rosneft had little interest in turning away from Russian oil.

dpa