German govt to extend Rosneft trust admin until 2024 - Breaking The News

German govt to extend Rosneft trust admin until 2024

8 September

1 min read

EPA-EFE/MAXIM SHIPENKOV

The German Ministry for Economic Affairs and Climate Action announced on Friday its decision to extend the trust administration of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH until March 10, 2024, to ensure energy supply.

The Federal Network Agency will continue to act as a trustee and will be given voting rights for Rosneft Deutschland's shares. This decision is aimed at guaranteeing the supply for Berlin and Brandenburg, as well as securing the future viability of the Schwedt refinery.

A year ago, Berlin placed Rosneft Deutschland under the trusteeship of the country's regulatory office amid tensions with Russia and the European Union's plan to reduce dependence on Russian energy products amid the war in Ukraine.

rosneft energy germany-russia relations

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