Habeck is checking the procedure
Russian oil company Rosneft fumes over expropriation plan
February 8, 2024, 10:58 a.m
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For a long time, Germany has been dependent on Russia for energy supplies. Then the major attack on Ukraine changes everything. Now the Federal Ministry of Economics is probably even considering expropriating the German branch of Rosneft. People there are angry and announce resistance.
The Russian oil company Rosneft wants to use all legal means against an impending expropriation in Germany. “Such an expropriation would represent a measure that would remain unprecedented in the history of the Federal Republic of Germany and would forever harm investment security,” said Malmendier Legal, a law firm commissioned by Rosneft. “Rosneft, as a listed joint stock company, will take all measures to protect the rights of its shareholders.”
The Green Party-led Federal Ministry of Economics has invited Rosneft to a hearing about the possible nationalization of its assets in Germany. The background is that the federal government’s trusteeship for Rosneft’s share in the refinery in Schwedt expires in March.
Two insiders emphasized that with the invitation to the hearing, no decision had yet been made as to whether the federal government would really go this route or whether the trusteeship, which has existed since September 2022, will be extended again. It is a consequence of the Russian attack on Ukraine.
Ampel probably informed Rosneft about plans
Malmendier Legal also said that Rosneft was informed last Tuesday that an expropriation of the shares was being considered. The law firm accused the traffic light government, which is “in a constant state of crisis,” of wanting to quickly expropriate, confiscate or confiscate Russian assets in Germany before the end of its term in office. This should create a fait accompli.
The ministry told Rosneft that if Russian control over the German Rosneft companies, the operation of the refineries would be at risk because contractual partners would refuse to work with Rosneft. The law firm emphasized that it remains a “curiosity” as to how the state itself or a hastily summoned third party could operate the refinery better.