Germany took control of the German business of Russian oil giant Rosneft Oil Co. as Berlin races to safeguard its energy supplies before its planned ban on Russian oil imports kicks in later this year.
Rosneft’s Germany assets make up a total of around 12% of the country’s oil-processing capacity, making it one of the largest oil-processing companies in the country.
“Over the next few months, we’ll have to continue to preserve critical infrastructure in order to achieve energy independence,” said Verena Hubertz, a leading lawmaker for Scholz’s Social Democrats. “Further measures will follow.”
Rosneft Deutschland wil be in a trust for at least six months, is designed to ensure the continued operation of Rosneft’s three refineries in Germany, including PCK Schwedt, which supplies gas, heating oil and jet fuel to the city of Berlin and nearby areas, the government said.
