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Germany to extend state control over Rosneft’s assets for six months

The regulator earlier obtained control over stakes in three German refineries: PCK, Miro and Bayernoil

BERLIN, September 8. /TASS/. The German Federal Network Agency will continue to have external control over the assets of Russia’s Rosneft in the republic for another six months, in continuation of the regime that began last year, the DPA news agency reported citing a source in the Ministry for Economic Affairs and Climate Action of Germany.

In order to ensure the energy supply, the German government is extending the term of discretionary management of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH on the basis of the law on energy security until March 10, 2024, the agency said. Previously, the external management scheme was set to expire in the middle of September.

In turn, Economy Ministry State Secretary Michael Kellner said that the German government had been in close contact, in particular, with the Polish authorities on how to ensure the security of supplies since last year. There have been no problems with deliveries recently, he added.

On September 16, 2022, the German government transferred Rosneft Deutschland and RN Refining & Marketing GmbH under the control of the Federal Network Agency of Germany. The regulator thereby obtained control over stakes in three German refineries: PCK, Miro and Bayernoil. Rosneft stated on the same day that this decision meant the complete loss of its assets and vowed to embark on a legal battle to defend its interests.

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