German court approves trusteeship of Rosneft subsidiaries
In September last year, the German government took control of Rosneft Deutschland and RN Refining& Marketing, at the initiative of the Ministry for Economic Affairs and Climate Action. Rosneft Deutschland accounted for 12 percent of Germany’s crude oil processing capacity. The trusteeship of Rosneft Deutschland and RN Refining& Marketing is due to expire on…
BERLIN, March 14 (Xinhua) — Claims by the Russian oil company Rosneft that the German government illegally enforced an import embargo on Russian crude oil were dismissed by a court in Leipzig on Tuesday.
The German Federal Administrative Court ruled that the trusteeship of two German subsidiaries of Rosneft, executed in 2022, was lawful.
In September last year, the German government took control of Rosneft Deutschland and RN Refining & Marketing, at the initiative of the Ministry for Economic Affairs and Climate Action. The decision was based on the country’s energy security act.
Rosneft Deutschland accounted for 12 percent of Germany’s crude oil processing capacity. By taking control of the Rosneft subsidiaries, the Federal Network Agency has taken over the PCK refinery in Schwedt, the biggest fuel supplier for the German capital Berlin.
The failure of the refinery would have jeopardized heat supply, ambulance transport and fire departments, the court said.
Following EU sanctions against Russia, German oil imports from the country collapsed. In January, only 3,500 tons were imported from residual stocks, reducing Russia’s share in Germany’s total crude oil imports to 0.1 percent, from 36.5 percent a year earlier, according to the Federal Statistical Office (Destatis).
The trusteeship of Rosneft Deutschland and RN Refining & Marketing is due to expire on March 15, but is expected to be extended for an additional six months. Enditem
