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Russia's Rosneft to sell German assets, German economy ministry says

Tan KW
Publish date: Fri, 01 Mar 2024, 10:57 PM
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BERLIN Russian oil giant Rosneft is starting the process of selling its German assets and wants to conclude the sale by September, Germany's economy ministry said on Friday.

The law firm for Rosneft in Germany was not immediately available for comment.

In the wake of Russia's invasion of Ukraine, Berlin put Rosneft assets in Germany, including Berlin's main PCK refinery, under a trusteeship in September 2022. The trusteeship has been extended since then and a Rosneft lawsuit to challenge Berlin's decision failed in court last year.

"We will check this, including further legal safeguards. The primary goal of our actions remains securing the energy supply, especially securing the operations of PCK Schwedt," a spokesperson for the economy ministry said in a statement.

The current trusteeship expires on March 10, and the period of a new trusteeship is set for another six months.

Separately, Germany's federal administrative court said Rosneft had suspended its lawsuit challenging the trusteeship.

 


  - Reuters

 

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