Germany may nationalize Rosneft unit after US sanctions - Reuters
Kyiv • UNN
Germany is considering nationalizing a unit of the Russian company Rosneft due to US sanctions. This concerns the Schwedt refinery, which supplies fuel to Berlin and eastern Germany.
Germany is considering nationalizing a unit of the Russian company Rosneft. This is reported by Reuters, citing two sources familiar with the negotiations, informs UNN.
Details
It is noted that US sanctions against the Russian oil producer have revived discussions in Germany about nationalizing the company's business, including an oil refinery on which Berlin depends for producing most of its fuel.
This situation underscores Germany's complex web of ties with Russia, which supplied energy to Europe's industrial giant for decades leading up to the war in Ukraine.
According to the publication, securing a permanent exemption from sanctions remains the priority option for Berlin. However, German officials are also considering confiscating assets and selling them to a foreign investor.
"The German unit of Rosneft owns a controlling stake in the Schwedt refinery, which supplies most of the fuel to Berlin, including to the airport, gasoline for gas stations throughout eastern Germany, and key ingredients for the local chemical industry," the media specifies.
Recall
On October 29, the US lifted sanctions against Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, which are German subsidiaries of Rosneft.