Germany takes control of 3 Russian-owned oil refineries
Source: Associated Press
Germany takes control of 3 Russian-owned oil refineries
September 16, 2022
BERLIN (AP) — Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year, officials said Friday.
The Economy Ministry said in a statement that Rosneft Deutschland GmbH and RN Refining & Marketing GmbH will be put under the administration of Germany’s Federal Network Agency. As a result, the agency will also control the companies’ shares in three refineries: PCK Schwedt, MiRo and Bayernoil, located in the east and south of the country.
Rosneft accounts for about 12% of Germany’s oil refining capacity, importing several hundred million euros’ (dollars’) worth of oil from Russia every month, the ministry said.
It said the move would help ensure continued energy supplies and was initially due to last for six months.
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Read more: https://apnews.com/article/germany-government-and-politics-1a0bd7bf480c84a61b795e2de6df0270
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