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Germany renews external management of Rosneft Deutschland for six months — ministry

On September 16, 2022, German authorities transferred Rosneft Deutschland and RN Refining & Marketing GmbH to be managed by the Federal Network Agency

BERLIN, March 7. /TASS/. The German government extended external management of Rosneft Deutschland assets until September 10, the Economy Ministry of the country said.

"The federal government on the basis of the energy security law [EnSiG] renews the period of external management of Rosneft Deutschland GmbH [RDG] and RN Refining & Marketing GmbH [RNRM] until September 10, 2024," the ministry said.

The decision on the repeated renewal was made after "the Russian owner declared the intention to sell its stakes in RDG and RNRM," it added.

On September 16, 2022, German authorities transferred Rosneft Deutschland and RN Refining & Marketing GmbH to be managed by the Federal Network Agency. It established control over stakes in three German refineries. Rosneft announced on the same day that this decision means the full loss of assets and that the Russian company is going to defend its interests in court.

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