German government does not want to expropriate Rosneft's shares in three German refineries
Kyiv • UNN
The German government has extended the trust management of Rosneft's shares in three German refineries for another six months to allow the Russian company to voluntarily sell its shares instead of expropriating them.
The German government has so far refrained from expropriating the shares of the Russian state-owned company Rosneft in three German oil refineries. This was reported by tagesschau, according to UNN.
Details
According to the newspaper, the federal government is refraining from expropriating the shares of the Russian state-owned company Rosneft in three German refineries. The country's Ministry of Economy said it wants to extend the trust management for another six months so that Rosneft voluntarily sells its shares, including the majority in a large refinery in Schwedt.
It is noted that two German branches of the company own 54% of the shares of a huge industrial plant in Schwedt, as well as minority stakes in two other refineries in Baden-Württemberg and Bavaria.
Overall, the Russian company controls about 12% of Germany's oil refining capacity.
"The federal government has decided to extend the trust management again after the Russian owners announced their intention to sell their stakes in the two subsidiaries within the extended period," the German Ministry of Economy said.
Recall
The German government is taking steps to nationalize Rosneft's subsidiaries in Germany after placing them under external management.
