28.11.2024, 18:39
Putin called Germany's seizure of Rosneft assets unacceptable
Source: OREANDA-NEWS
OREANDA-NEWS Russia considers Germany's seizure of Rosneft's assets unacceptable, but the company is ready to negotiate with both German regulators and partners, Russian President Vladimir Putin told reporters.
He said that Russia and Kazakhstan have repeatedly discussed the issue related to the possible sale of Rosneft's stake in the Schwedt refinery in Germany, as well as independent supplies of oil from Kazakhstan to this plant.
"Anything is possible. The only thing that seems unacceptable to us is the use of illegal methods by the Government of the Federal Republic against the Russian company Rosneft, which look like just nationalization and seizure of our property... But this is also a matter of negotiations, and Rosneft is ready for these negotiations, both with German regulators and with partners," Putin added.
In September 2022, the German government transferred Rosneft Deutschland and RN Refining & Marketing GmbH to the management of the German Federal Network Agency. Thus, it gained control over the shares of three refineries: PCK in Schwedt, Miro in Karlsruhe and Bayernoil in Vogburg. The term of external management has been extended several times.
On March 14, 2023, a court in Germany rejected Rosneft's lawsuit against the German government, supporting the transfer of its assets under external management. The appeal in August also remained without results. In addition, Rosneft's defense sent a claim to the German Ministry of Economy for damages from the external management of the company's subsidiaries, and a lawsuit was also filed against the extension of such management. In December 2023, the Russian company filed a constitutional complaint with the Federal Administrative Court of Germany.
In October 2024, the Dusseldorf Supreme Land Court also rejected an appeal by Rosneft against permission to sell Shell's stake in the Schwedt refinery. In its reasoning, the court pointed out that the applicant had no right to demand the prevention of such actions by the management of Rosneft Deutschland, and Shell, intending to sell its shares, fulfilled its obligations to provide the co-owners of the shares with the opportunity to exercise the pre-emptive right to purchase the remaining shares.
He said that Russia and Kazakhstan have repeatedly discussed the issue related to the possible sale of Rosneft's stake in the Schwedt refinery in Germany, as well as independent supplies of oil from Kazakhstan to this plant.
"Anything is possible. The only thing that seems unacceptable to us is the use of illegal methods by the Government of the Federal Republic against the Russian company Rosneft, which look like just nationalization and seizure of our property... But this is also a matter of negotiations, and Rosneft is ready for these negotiations, both with German regulators and with partners," Putin added.
In September 2022, the German government transferred Rosneft Deutschland and RN Refining & Marketing GmbH to the management of the German Federal Network Agency. Thus, it gained control over the shares of three refineries: PCK in Schwedt, Miro in Karlsruhe and Bayernoil in Vogburg. The term of external management has been extended several times.
On March 14, 2023, a court in Germany rejected Rosneft's lawsuit against the German government, supporting the transfer of its assets under external management. The appeal in August also remained without results. In addition, Rosneft's defense sent a claim to the German Ministry of Economy for damages from the external management of the company's subsidiaries, and a lawsuit was also filed against the extension of such management. In December 2023, the Russian company filed a constitutional complaint with the Federal Administrative Court of Germany.
In October 2024, the Dusseldorf Supreme Land Court also rejected an appeal by Rosneft against permission to sell Shell's stake in the Schwedt refinery. In its reasoning, the court pointed out that the applicant had no right to demand the prevention of such actions by the management of Rosneft Deutschland, and Shell, intending to sell its shares, fulfilled its obligations to provide the co-owners of the shares with the opportunity to exercise the pre-emptive right to purchase the remaining shares.
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