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Rosneft began selling German assets

Russian oil giant Rosneft is starting the sale of its German assets and wants to complete the process by September. This is reported by Reuters.

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After Russia's full-scale invasion of Ukraine, Germany transferred Rosneft's assets in the country, including the main Berlin oil refinery PHC, to government trusteeship in September 2022.

Since then, the trusteeship period has been extended, and the lawsuit ” Rosneft's bid to appeal Berlin's decision last year was rejected by the court.

The current trusteeship over Rosneft's German assets expires on March 10, and the new trusteeship is set for another six months, which is why Russian owners are seeking to sell assets until September 2024.

Rosneft-Russia has now stated that it has begun the sales process and wants to complete it during the period of further continuation of trusteeship,” says a statement from a representative of the German Ministry of Economics.

< p>Also German officials want to check this, including further legal guarantees. The main goal of their actions remains to ensure energy supply, especially the security of PCK Schwedt.

Rosneft assets in Germany

Russian media estimate Rosneft assets in Germany at approximately $7 billion. Previously, Moscow criticized possible nationalization of assets and stated that it would protect its interests.

Rosneft owns 54.17% of the PCK Schwedt refinery. Earlier, Shell separately announced the sale of its 37.5% stake in the oil refinery, which supplies most of the fuel to Berlin, to the British Prax Group.

A representative of the German Ministry of Economic Affairs will visit the plant on March 8 and explain further steps to its workers, they said in the ministry.

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