Russia’s Rosneft is considering legal action against the state control of its subsidiary in Germany

The German government’s decision to place Rosneft Deutschland, a subsidiary of the Russian energy giant, under state control provoked a strong reaction from the Rosneft group, which denounced an “illegal decision” that constitutes a “violation of all the fundamental principles of a market economy”.

In a press release, the Russian group leaves open the possibility of legal action. However, he appears ready to discuss a new Rosneft Deutschland contract with the operator, provided there are guarantees on oil supply payments, Reuters reports.

Earlier, Chancellor Olaf Scholz underlined that this is an “inevitable and major energy policy decision for protection” of Germany. The government, he emphasized, “ensures that Germany will be supplied with oil in the medium and long term (…) Russia is no longer a reliable supplier of energy”.

Rosneft Deutschland accounts for about 12% of the total oil refining capacity in Germany and the Swed refinery serves almost entirely the needs of Berlin, the north-eastern states of Germany and part of western Poland and since 1963 oil has been supplied exclusively from the pipeline ” Druzba” (“Friendship”). Since August at least 20% of Swed oil has come from the US, while efforts are being made to secure more alternatives. Together with PCK, the Federal Regulatory Authority also takes control of the company’s shares in the MiRo refineries in Karlsruhe and Bayernoil in Faubourg.

According to the German Ministry of Economy, the decision was taken when it was established that the continuation of the company’s business operation was at risk due to the Russian parent company. Central critical service providers, suppliers, transporters, insurance companies, IT companies, banks and customers were no longer willing to work with Rosneft – nor with the refineries in which it held shares. The legal framework for the government’s decision is Article 17 of the Energy Security Law, according to which a company that operates critical infrastructure in the energy sector can be placed under guardianship if it is considered that there is a specific risk that without it it would not will be able to meet its obligations, with the risk of deteriorating security of supply. The administrator of the company from today and in the first phase for six months is now the Federal Network Service, as published in the Federal Gazette.

RES-EMP

Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.