Oil from Russia: Rosneft defends itself against takeover by Germany
Created: 09/17/2022, 09:27
By: Vincent Bussow
The federal government takes control of Rosneft Germany.
The state-owned company from Russia wants to prevent that.
Moscow – Germany wants to become independent of energy from Russia.
The project, which was triggered by the Ukraine war, is causing tensions between the nations.
Russia recently stopped gas supplies through Nord Stream 1.
The federal government is now preparing for the oil embargo against Moscow, which is to apply from 2023 - and is taking control of Russian subsidiaries in Germany.
Russia's reaction followed promptly.
The PCK refinery in Schwedt is now largely under the control of the federal government.
Russia called the takeover "illegal".
(Archive image) © Patrick Pleul/dpa
In a statement on Friday evening (September 16), the Russian state oil company Rosneft accused the federal government of “forced expropriation” of its German subsidiaries.
The company called the takeover an "illegal access" to its assets that violated "all fundamental principles of the market economy".
Rosneft is reviewing all options to protect its shareholders, including legal action.
Energy dependence on Russia: Rosneft defends itself against German takeover
The reaction from Russia came on the same day as the German government announced that Rosneft's subsidiaries would be put under trusteeship.
These are the companies Rosneft Germany and RN Refining & Marketing GmbH.
Federal Chancellor Olaf Scholz and Economics Minister Robert Habeck focused in particular on the refinery in Schwedt, Brandenburg, which employs around 1,200 people.
In anticipation of the oil embargo against Russia, the future of the operation was unclear for a long time.
The security of supply was "no longer given", Habeck justified the step now, since critical service providers no longer wanted to work with Rosneft, and the company itself had little interest in turning away from Russian oil.
The Miro refineries in Karlsruhe and Bayernoil in Vohburg are also affected.
Oil embargo: Federal government takes control of Rosneft Germany
In the course of the takeover, which will be carried out by the Federal Network Agency, the federal government also wants to invest more than one billion euros in order to maintain operations and secure jobs.
From Russia, on the other hand, came the message that the measure meant that Rosneft was no longer able to “guarantee the industrial and ecological safety of the plant”.
(vbu with dpa and AFP)
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Robert Habeck, Olaf Scholz and the Prime Minister of Brandenburg, Dietmar Woidke, announced that they would place the German subsidiaries of Rosneft from Russia under trusteeship.
© Michael Kappeler/dpa
