As of: February 8, 2024, 12:25 p.m
By: Andreas Jäger
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The Russian oil company Rosneft has a 54 percent stake in the Schwedt refinery in Brandenburg.
© Patrick Pleul/dpa
An expropriation of the Russian oil company Rosneft, majority owner of an East German refinery, by the Federal Ministry of Economics is getting closer.
The oil should now come from Poland or Kazakhstan instead of Russia.
Schwedt – Almost all of Berlin and Brandenburg’s fuel supply comes from the Schwedt refinery in the Uckermark.
And around ten percent of the total German supply of gasoline, diesel and heating oil comes from here.
The Russian oil company Rosneft holds the majority stake in the refinery, around 54 percent.
In September 2022, six months after the Russian invasion of Ukraine, the subsidiaries Rosneft Deutschland and RN Refining & Marketing were placed under the trust of the Federal Network Agency - since then the German state has had de facto control over the companies.
Oil company wants to take measures against expropriation
The Federal Administrative Court dismissed a lawsuit by Rosneft in March 2023.
Now the federal government is apparently planning more drastic steps against the oil company: expropriation is on the cards.
As the
Handelsblatt
reported, the government no longer considers the constant extension of the existing trust administration to be the appropriate means of dealing with the company.
Rosneft announced through its law firm that it wanted to take all measures to protect shareholders.
Such expropriation is an unprecedented measure in Germany and would have a lasting impact on investment security in the country.
Meanwhile, the Federal Ministry of Economics is looking for other crude oil suppliers for the refinery.
“We are on the right track in Schwedt,” said the ministry’s parliamentary state secretary, Michael Kellner (Greens), on Wednesday.
According to Kellner, discussions are currently being held with companies from Poland and Kazakhstan.
“The primary goal remains to ensure security of supply,” said the Green politician.