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Russia to lose enterprises of the company Rosneft in Germany

Russia to lose enterprises of the company Rosneft in Germany Rosneft may lose all of its enterprises in Germany.

The German government is considering the possibility of nationalizing enterprises of the Russian state company Rosneft, including the fourth-largest oil refinery in the city of Schwedt, according to the Handelsblatt.

The facilities of Rosneft in the country cover about 12% of the capacities of the German oil refining industry. In September 2022, the federal government transferred them to trust management of the Federal Network Agency. Management of the enterprises was established for six months and extended twice. The next deadline is set for March 10, 2024.

So far, the German government had hoped that Rosneft would independently sell its shares in these assets. According to AFP sources, representatives of the Russian company have been invited to a special hearing regarding the nationalization of its enterprises. This is one of the formal stages of the nationalization procedure. However, at the moment, a final decision has not yet been made.

Situation with the assets of Rosneft in Germany

In September 2022, the German government transferred the subsidiaries of Rosneft to the country under the management of the Federal Network Agency. The decision was made due to the threat to the country's energy security.

In March 2023, the U.S. issued an order to seize a Boeing aircraft owned by the Russian oil company Rosneft, valued at over $25 million.

In April 2023, Rosneft filed a lawsuit against the German government regarding the extension of guardianship over its German subsidiaries and control over the oil refinery in Schwedt.