Germany appointed a trustee to Rosneft Germany, the German subsidiary of the Russian energy company Rosneft, for security of supply in energy.
In the statement made by the German Ministry of Economy and Climate Protection, it was stated that crude oil importers Rosneft Germany and RN Refining & Marketing GmbH were transferred to the management of Germany’s energy market regulator (Bundesnetzagentur-BNetzA).
ReutersAccording to the news of , sources knowledgeable about the subject stated that Rosneft had difficulties in the implementation of sanctions against Russia due to its invasion of Ukraine. While the refinery buys its crude oil from Russia, the sanctions require that oil imports from Russia be stopped by the end of the year.
The control of Rosneft Germany, which constitutes about 12 percent of Germany’s refinery capacity, thus passed to the regulatory agency, and the agency announced that the former owner of the company no longer had decision-making authority.
Rosneft is the latest step taken by Germany to take control of the energy sector, which was negatively affected by the Ukraine war.
Germany announced this week that it will quickly provide resources to energy companies that are in danger of being crushed by soaring gas prices.
Natural gas prices soared after Russia reduced gas supplies to Europe in response to Western sanctions against it.
Uniper, Germany’s natural gas import company, announced on Wednesday that the 19 billion euro support package announced earlier on Wednesday was not enough and that the government could buy the majority shares.
The government also took control of SEFE, formerly Gazprom Germania, after Russian gas giant Gazprom withdrew from the company in April.
CRITICAL TO BERLIN
The Schwedt refinery, Germany’s fourth largest refinery, supplies 90 percent of the fuel used in Berlin.
The refinery has been receiving all its crude oil from Russia through this pipeline since the 1960s when the Druzhba pipeline was built. The Schwedt refinery also produces fuel for some regions in Western Poland.
The ministry also announced that the refinery will be able to purchase crude oil from alternative sources.
The seized company Rosneft Germany also had stakes in the MiRo refinery in Karlsruhe and the Bayernoil refinery in Vohburg.