As of: February 16, 2024, 7:58 p.m
By: Bona Hyun
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A possible expropriation of Rosneft presents Habeck with a dilemma.
Millions of dollars in German tax money could fill Putin's war chest.
Berlin – An expropriation of Rosneft could put Germany in serious legal risk.
In addition to the risk of Russian retaliation against German companies, Germany could face compensation claims worth billions in the event of expropriation.
Robert Habeck's plans are also attracting international attention.
Habeck wants to expropriate Rosneft – there is a threat of compensation, and the US portal is also taking up the issue
The US magazine
Politico
took up the possible Rosneft expropriation in an article.
So far, the PCK refinery, which is 54 percent owned by Rosneft, is under federal control.
In the event of expropriation, Rosneft would lose shares in the PCK refinery in Schwedt.
However, according to
Politico
, expropriation could increase the risk that Russia will prevent oil supplies from Kazakhstan.
The PCK refinery in Schwedt is currently presumably being supplied with oil from Kazakhstan after Germany voluntarily renounced Russian oil imports as part of the EU sanctions against Russia.
Viktor Katona, senior crude oil analyst at market research firm Kpler, fears that Russia's announced retaliation will lead to a shortfall in oil supplies.
There would also be “immediate price increases,” Katona told
Politico.
Russian President Vladimir Putin could demand high compensation payments from Germany in the event of Rosneft's expropriation.
© Sergei Karpukhin /dpa
In the event of Rosneft expropriation: Putin could demand millions in compensation
According to Politico
, another big problem for the federal government in the event of an expropriation of Rosneft is
that Germany would have to pay a very high amount of compensation.
Katona estimates the amount at one to two billion euros.
Paying such a sum to the Kremlin in the middle of the Ukraine war might not put Germany in a good light, according to
Politico.
From a purely legal perspective, Rosneft would be entitled to compensation, explained Christian von Hammerstein, a lawyer specializing in energy law, to Die
Welt.
According to von Hammerstein, Russia could make use of the protection of property under Article 14 of the Basic Law.
Whether the protection also applies to a company owned by the Russian state or whether expropriation of the Russian company without compensation is possible “is at least questionable and would have to be conclusively clarified in court.”
Patrick Abel from the Chair of International Business Law at the University of Passau believes that the risk of Rosneft taking legal action before an international arbitration tribunal is high.
The lawyer told Tagesspiegel that the group could assert claims for damages regardless of compensation
.
“These claims can be higher than the compensation amount and can also run into the billions,” said Abel.
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Concern about supply in the event of Rosneft expropriation – Poland would continue to supply PCK with oil
At least in the event of possible supply bottlenecks in the event of a Rosneft expropriation, Habeck seems to have found a solution.
He is pinning his hopes on Poland.
During a visit to Warsaw on Tuesday (February 13), the Green politician indicated that Poland would deliver more crude oil to Schwedt via the port of Gdansk.
Because Rosneft is still involved in the refinery, Poland has been skeptical so far.
But that could change if the Russians are forced out.
A spokesman for the German economy ministry confirmed
that officials were "in discussions with companies from Poland" about deliveries, according to
Politico .
According to Federal Economics Minister Habeck, the supply of crude oil to the refinery in Schwedt would probably improve in the event of a possible expropriation of the Russian company Rosneft.
“Poland has helped a lot in the past to ensure oil supplies in eastern Germany,” said Habeck.
Rosneft is defending itself against expropriation with all means – is Habeck sticking to its plans?
Russia had already announced measures if the expropriation plans were to be implemented.
Kremlin spokesman Dmitry Peskov said on Thursday (February 8) that no step would be ruled out to defend Russian interests.
“This is nothing other than the expropriation of foreign property, these are all steps that are likely to undermine the economic and legal foundations of European states,” Peskov railed against the plans to nationalize Rosneft.
This was reported by the
Interfax news agency.
Rosneft Germany also apparently does not want to accept a possible expropriation.
The Berlin law firm Malmendier Legal, which represents Rosneft, also said on Thursday: “Rosneft, as a listed stock corporation, will take all measures to protect the rights of its shareholders.” Expropriation is currently being examined by the federal government, and a decision is expected to be made in March .
(bohy)