The German government decided to maintain control over two subsidiaries of the Russian oil giant Rosneft for an additional six months.
This move comes a year after the government initially placed Rosneft Deutschland GmbH and Rosneft Refining and Marketing GmbH under the oversight of Germany’s Federal Network Agency.
In March, a German federal court rejected complaints from Rosneft and upheld this decision.
Through this trusteeship, German authorities gained control over three refineries owned by Russian entities.
At the time, Rosneft represented approximately 12% of Germany’s oil refining capacity.
The Economy Ministry said the trusteeship extension is being carried out until March 10, 2024, with the aim of ensuring a stable energy supply.
The Rosneft subsidiaries are owners of a refinery located in Schwedt, situated on the border with Poland northeast of Berlin.
This refinery supplies petroleum products to the capital and a significant portion of northeastern Germany.
Previously, it primarily processed Russian oil, but it now receives oil shipments from the Polish port of Gdansk and from Kazakhstan.
The court’s ruling in March determined that the government was not obligated to hold a hearing with Rosneft before taking action in these circumstances.
The decision was based on concerns that indications of a potential capital withdrawal could lead to the subsidiaries’ collapse.
It is worth highlighting that the government had previously taken control of Gazprom’s former German unit to prevent a similar scenario.
