Germany takes subsidiary of Russian oil giant Rosneft under state control

Germany has taken the German subsidiary of the Russian lipid elephantine Rosneft nether authorities control, putting 3 refineries into a trusteeship up of a partial European embargo connected Russian lipid astatine the extremity of the year.

The national web regulator volition go the impermanent spot manager of Rosneft Germany and its stock of refineries successful Schwedt, adjacent Berlin, successful Karlsruhe and successful Vohburg, Bavaria, Germany’s ministry for economical affairs announced connected Friday.

Rosneft Germany is the country’s largest azygous lipid processing company, accounting for astir 12% of its capableness for processing crude oil.

The German chancellor, Olaf Scholz, volition connected Friday denote further details of a bundle to enactment the Schwedt refinery and “ensure that the proviso of lipid via alternate paths tin beryllium secured”, the announcement said.

The refinery connected the Polish border, important for supplying petrol to the Berlin-Brandenburg region, has until present been reliant connected supplies via the Soviet-era Druzhba (“friendship”) pipeline, which takes Russian lipid crossed Ukraine to Europe.

After months of wrangling, the European Union successful May agreed to a partial prohibition connected Russian oil, with the purpose of cutting disconnected backing to the Kremlin’s warfare machine. According to the European Council president, Charles Michel, three-quarters of Russian lipid imports volition beryllium affected immediately, rising to 90% by the extremity of the year.

In a concession to Hungary, Druzhba was exempted from the EU’s embargo, but Germany and Poland person stated their volition to halt utilizing the pipeline for lipid deliveries from the extremity of the year.