Germany seizes control of 3 Russian-owned oil refineries ahead of looming EU deadline

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An oil subsidiary in Germany previously controlled by a Russian oil giant is now under the control of the German government, it announced on Friday.

The German government said it had taken control of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, two companies until now owned by multinational oil and gas giant Rosneft. The government said the move would ensure continued oil production as the international community seeks to reduce oil dependence on Russia.

German Ministry of Economics said on Friday that the companies would be placed under the control of the Federal Network Agency. The ministry also said the agency will take control of the companies’ shares in three refineries: PCK Schwedt, MiRo and Bayernoil.

An oil refinery at the industrial site of PCK-Raffinerie GmbH, jointly owned by Rosneft, is illuminated at dusk on May 4, 2022 in Schwedt, Germany.
(Patrick Pleul/dpa via AP, File)

The acquisition will continue for six months, the ministry said.

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The Schwedt refinery supplies around 90% of Berlin’s fuel and Rosneft Deutschland is one of the country’s largest oil processing companies, accounting for 12%. German oil refining capacity, Reuters reported.

The move comes amid a major package by the German government to find alternatives to Russian oil, which it plans to announce later on Friday. Rosneft has previously said it has no plans to stop importing Russian oil.

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Oh United Europe The embargo on Russian oil is scheduled to take effect on January 1, 2023.

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The Associated Press contributed to this report.

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