Germany takes control of 3 Russian oil refineries

Germany is taking control of three Russian refineries in the country to ensure energy security before an embargo on Russian oil takes effect next year, officials said on Friday.

Two subsidiaries of Russian oil giant Rosneft – Rosneft Deutschland GmbH and RN Refining & Marketing GmbH – will be placed under the administration of the German Federal Network Agency, the economy ministry said in a statement.

Accordingly, the agency will also control the companies’ shares in the PCK Schwedt, MiRo and Bayernoil refineries, located in eastern and southern Germany.

“This is a far-reaching energy policy decision to protect our country,” said German Chancellor Olaf Scholz. “We have known for a long time that Russia is no longer a reliable supplier of energy.”

“With today’s decision, we are ensuring that Germany will also be supplied with oil in the medium and long term,” said Scholz. “This is especially true for the Schwedt refinery.”

The facility supplies petroleum products to much of northeastern Germany, including Berlin.

Rosneft accounts for about 12% of Germany’s oil refining capacity, importing oil worth several hundred million euros (dollars) every month, the ministry said.

He said the move would help ensure continuity of energy supply and was originally expected to last six months.

Rosneft had previously made it clear that it had no plans to stop oil imports via the Druzhba pipeline, which connects Russia with Ukraine to refineries in central Europe, despite the entry into impending force of an EU embargo on 1 January 2023.

Scholz said a billion euro (dollar) aid package would secure jobs for around 1,200 people currently working at the PCK refinery in Schwedt and help its long-term transformation as part of the transition. towards a green economy.

Economy Minister Robert Habeck said the refinery would in future receive oil via a pipeline from the port city of Rostock and via neighboring Poland, which had refused supplies while there were a risk that Rosneft will profit from it.

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Christi C. Elwood