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Russian oil company Rosneft describes the German government’s nationalization of the company as “illegal”

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MADRID, Sep. 17 (Moose Gazette) –

The Russian oil company Rosneft has described this Saturday as “illegal” the German government’s decision to take control of the company’s three refineries in the German country, alleging that the production of oil distilleries was endangered by the Russian ownership of the company. company.

“This decision is illegal and, in essence, is an expropriation of patrimonial assets following the situation intentionally created by the relevant sanctions of the European Union and the actions of German and Polish regulators with the aim of seizing the assets,” said the statement. Russian company in a statement.

The determination, announced this Friday early in the morning by the German Ministry of Economy and Climate Protection, however, has not caught the Russian oil company by surprise, which has argued that “it follows the logic of the algorithm of actions related to Russian companies in Germany imposed by the United States”.

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Likewise, Rosneft considers that this is “a violation of all the fundamental principles of the market economy”, as well as “the foundations of the civilization of modern society”.

The company’s German subsidiary — which represents about 12 percent of Germany’s oil processing capacity — reportedly followed all German regulatory requirements “despite the complex situation in the energy market.”

“Rosneft Germany continued to fully meet its obligations to supply petroleum products and held discussions on the new contracts necessary to ensure security of supply, especially in the Berlin-Brandenburg region and in western Poland,” the oil company said.

However, Rosneft has expressed hope that the decision made by the German government is not temporary and amounts, “essentially, to an irremediable loss of assets.”

It has also announced that it will study all possible measures to protect its shareholders, including legal action, while detailing that it can no longer be responsible for managing “health, safety and the environment at the refinery”.

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The Government of Germany announced this Friday that it has “taken control” of the German unit of the Russian oil company Rosneft, as well as its three refineries in the country, alleging that the production of oil distilleries was endangered by Russian ownership. of the company.

The control of Rosneft and its three refineries in the cities of Vohburg and Karlsruhe counteracts the “imminent threat” to the security of energy supply and establishes “an essential foundation” for the preservation and future of the location of one of these distilleries of Petroleum.

To date, these refineries have relied on Russian crude supplies through the Druzhba pipeline, which transports oil from central Russia to Europe.

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